President Trump just announced that Iran admits they are in a state of collapse and are requesting him to open the Strait of Hormuz while the figure out their leadership situation.
Trump doesn’t say he’s going to do it, but his tone seems to suggest he will:
Iran has just informed us that they are in a “State of Collapse.” They want us to “Open the Hormuz Strait,” as soon as possible, as they try to figure out their leadership situation (Which I believe they will be able to do!). Thank you for your attention to this matter! President DONALD J. TRUMP
In related news, the UAE has just announced they are leaving OPEC, which they believe will allow them to increase oil output:
NBC NEWS – The United Arab Emirates said Tuesday that it would leave OPEC, the Organization of the Petroleum Exporting Countries, which coordinates oil output among leading energy producing nations.
The departure from OPEC will likely lead the UAE to boosting energy output. Although with the Strait of Hormuz closed, it’s not clear how fast any increased production would be able to reach global markets.
“Following its exit, the UAE will continue to act responsibly, bringing additional production to market in a gradual and measured manner, aligned with demand and market conditions,” its state-run news agency said.