Trump said the Iran war is nearly over. That doesn't solve the oil crisis. [View all]

President Trump said he believes the war is "very complete, pretty much," and that the US is "very far" ahead of his estimated timeline. The remarks, made Monday afternoon to CBS News, sent oil prices tumbling and triggered a sharp swing into the green across all three major US indexes.

But statements from Trump alone are unlikely to solve the severe physical bottlenecks weighing on the global energy market, analysts and energy experts told Yahoo Finance — especially as the critical Strait of Hormuz, which accounts for 20% of global seaborne oil flows, remains closed to normal through-traffic.

"The market has been holding out for a so-called 'TACO' trade," Capital analyst Kyle Rodda said, but "ultimately, the proof will be in the pudding as to whether the war does de-escalate."

He added, "The critical issue will be substantial evidence that oil is flowing through the Strait of Hormuz, Gulf nations are returning output to normal, and critical energy infrastructure is safe, and there's minimal risk of being attacked again."

https://finance.yahoo.com/news/trump-said-the-iran-war-is-nearly-over-that-doesnt-solve-the-oil-crisis-173916971.html

Trump says a lot of shit. Most of it's wrong.