Donald Trump announced an ambitious plan to cut energy prices in the United States by half within 12 to 18 months. This promise comes as energy prices have increased by 14.7% year-over-year, according to recent data. Trump also declared that the Strait of Hormuz, a strategic waterway currently under the territorial control of Iran and Oman, constituted American territory. Markets are scrutinizing the implications of these declarations, particularly for crude oil and geopolitical tensions. Market operators currently give only a 3.2% chance of crude oil reaching an all-time high before September 30.
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