President Donald Trump declared the United States controls the Strait of Hormuz, threatened to bomb Oman, and said the U.S. is removing millions of barrels of oil weekly. Oil prices rose 2.58% to $91.10 a barrel, while shipping through the strait fell to 95 vessels last week.
The remarks were made on Monday, August 17, 2026, during a press briefing and a Fox News interview. Trump cited a memorandum of understanding that expired after a 60‑day window, while former officials Alan Eyre and Reuel Gerecht debated the MOU’s failure. Oman and South Korea were cited as allies under pressure, with the U.S. scaling back joint drills.
The market reaction reflects heightened geopolitical risk: Brent crude’s rise adds pressure on U.S. gasoline prices, now $4.06 per gallon, and reduces the flow of roughly 20% of global oil that transits the strait. Shipping delays and reduced traffic amplify concerns for energy‑dependent economies and may influence upcoming U.S. midterm election narratives.
Eyre maintains the United States does not control the strait and cites Iran’s minimal yet effective military capability, while Gerecht places responsibility on the United States for accepting a flawed MOU that ignored Iran’s intent to retain levies. Trump’s claim of territorial control contrasts with both experts’ assessments.