US President Donald Trump has sparked global economic fears after referring to the Strait of Hormuz as the 'Strait of Trump', a move seen as an intentional 'mistake' amid escalating tensions with Iran.
The Strait of Hormuz is the world's busiest oil transport route, and its closure has led to a sharp drop in global petroleum supply, pushing fuel prices higher and forcing oil-producing nations in the region to reduce output by millions of barrels each day.
Speaking at a Saudi-backed investment forum in Miami, Trump described his remark as a 'mistake' before adding that 'there's no accidents with me.' He claimed that Iran was 'on the run' and that its leadership, navy, air force, and nuclear programme had suffered heavy damage.
Iran's control over movement through the Strait of Hormuz remains its strongest strategic leverage, and the narrow channel has been blocked since the conflict began, resulting in rising energy prices worldwide.
