Oil prices plummet as US lets Iranian crude flow—and Trump is already furious
Turns out, nothing cures a geopolitical standoff faster than high gas prices at the pump. The US just quietly let Iranian oil back into the global market, shipping lanes are open again, and crude prices are absolutely cratering.
The United States and Iran just signed a 60-day truce. The naval blockade is basically paused, and the two countries even set up a direct maritime hotline so their navies don't accidentally start a major war. Now, cargo ships are sailing through the critical Strait of Hormuz like nothing ever happened.
More than 170 vessels have already cruised through the waterway. At least 30 of them were tankers stuffed to the brim with Iranian oil. The US Treasury actually issued a temporary waiver allowing people to buy Iranian crude with US dollars. There is even talk that America might start importing oil directly from Iran for the first time since the 1990s.
As a result, global oil prices are tumbling back to where they were before the conflict kicked off. Naturally, gas prices are dropping too, but not fast enough for Donald Trump. He just ordered the Justice Department to launch a price-gouging investigation into big oil companies, screaming on Truth Social that corporations are refusing to pass the savings down to drivers.
Nothing says peak global capitalism quite like lifting decades-old sanctions on an arch-enemy just so suburbanites can fill up their SUVs for cheap.
Source: UPI
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