Trump and his administration can't keep talking oil down without the Straits of Hormuz really being opened. The Strait of Hormuz accounts for roughly 20% of the total global oil supply.

The U.S. Strategic Petroleum Reserve is now below 300 million barrels, the lowest since 1983. In the long term, supply and demand win in market pricing, not narratives. — via @SJosephBurns

Hormuz risk and SPR at lowest since