Trump: Oil flows through the Strait of Hormuz at levels higher than pre-war, with prices declining

US President Donald Trump said that the United States has “complete” control over the Strait of Hormuz thanks to the US military, affirming that the volume of oil passing through the strait is now greater than it was before the war.

Trump added in a speech at a campaign rally at the On Center in Syracuse that preventing Iran from acquiring a nuclear weapon was the main driver of the US move, stressing that Tehran “will never possess a nuclear weapon.” He emphasized that Iran is in serious trouble and is suffering from inflation reaching 300%.

On the economic front, Trump considered that oil prices are indeed experiencing a significant decline, expecting them to continue falling, and even to “collapse unprecedentedly” once the war with Iran ends.

He also said that Iran is facing a severe economic crisis, adding that it is suffering from high inflation and financial difficulties that have affected its military and security institutions.

The US president confirmed that Russia had agreed to send millions of barrels of diesel to us. He called on “oil refining companies and retail traders to start lowering prices immediately, as we are providing them with huge quantities of oil.”