Trump sees Hormuz blockade lasting until September but calls it 'unlikely'

New York, June 3 (EFE) – U.S. President Donald Trump suggested the blockade of the Strait of Hormuz could extend until Labor Day on September 7, though he characterized such an outcome as "unlikely." The statement came during an interview on the New York Post's 'Pod Force One' podcast.

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I don't know. I mean, I think it could be (closed until Labor Day), but I think it's unlikely.

The ongoing conflict, initiated by a joint U.S. and Israeli attack on Iran on February 28 that killed Supreme Leader Ali Khamenei and military leaders, led Iran to block the vital waterway. This blockade, coupled with a U.S. naval encirclement of Iranian ports since April, has significantly impacted global oil prices and supply chains.

Trump voiced optimism about reaching a swift agreement with Iran to end the war and reopen the Strait of Hormuz, which previously handled a fifth of the world's oil. "I think this will be resolved pretty quickly," he stated.

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I think this will be resolved pretty quickly.

Despite concerns about escalating oil prices, Trump highlighted the resilience of the U.S. economy, pointing to record highs on Wall Street. He dismissed predictions of prices soaring to $300 or $400 per barrel, noting the current price of $98 per barrel, which he considered not excessively high given the potential for Iran to acquire nuclear weapons. However, West Texas Intermediate (WTI) crude has risen over 25% in the last three months.

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Everyone said it was going to be $300 or $400 a barrel, it's $98 a barrel, but it's not a very high price if you consider the possibility of (Iran) having a nuclear weapon.