Oil prices just had their highest single-day increase in six years. They then proceeded to have their biggest single day *decrease* in four years. Global oil prices are just whipsawing up and down.
Why?
Because Donald Trump said the war was pretty much over.
Except it’s obviously not! And he said so himself…a few hours later!
These are two New York Times headlines from a few hours apart on Monday:
“Oil Prices Fall After Trump Says That Iran War is ‘Very Complete’”
“Trump Walks Back Idea That War Is Near End: U.S Gains ‘Not Enough’”
Now, Trump did not walk anything back, because that would require him to take a coherent position about anything ever, which he doesn’t and probably can’t. Trump just says whatever he feels will gain him the most personal advantage in any given moment. This fact about him has been obvious to anyone since *at least* he announced his candidacy for president more than ten years ago.
But markets seem to have latched on to Trump’s first statement, that the war is nearly over, as if it were some sort of factual statement about reality and Trump’s intentions.
Oil prices have fallen, stock prices have risen…while Iran has started mining the Strait of Hormuz.
A fifth of global oil exports travel through the strait.
https://edition.cnn.com/2026/03/10/politics/iran-begins-laying-mines-in-strait-of-hormuz
HeavenlyPossum
Tim Ward ⭐🇪🇺🔶 #FBPE