# US Says It Doesn't Need Hormuz Strait While Giving Iran Oil Green Light



**Trump's Latest Statement: US Doesn't Use or Need the Strait of Hormuz.** This statement is clearly aimed at diminishing the status of this global oil chokepoint and downplaying its impact on US supply chains.

At the same time, the US is quietly allowing some Iranian oil to be exported legally.

On one hand, signaling independence from the strait, while on the other hand, clearing Iranian oil exports—essentially increasing supply and cooling oil prices.

**Gasoline prices next week are likely to see a modest pullback.**

*This article is for information sharing purposes only and does not constitute investment advice.*
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