Axios: Trump’s Posts Have Less Impact on Oil Prices
The U.S.-based outlet Axios has reported that the impact of U.S. President Donald Trump’s posts on global oil prices has declined compared with the first weeks of the Iran war.
According to the report, global markets reacted more strongly to Trump’s statements and posts at the start of the war because of uncertainty over U.S. policy and Washington’s objectives, but that situation has gradually changed.
Axios, citing oil analyst Ben Cahill, wrote that there was an information gap in the first weeks of the war, which caused markets to pay excessive attention to Trump’s posts. He said global markets have come to the conclusion in recent months that these posts do not necessarily reflect reality.
The analyst added that many of Trump’s statements about the Strait of Hormuz and the war’s objectives, in practice, have no direct connection to the volume of oil passing through the waterway.
According to the report, from Feb. 28 to Aug. 19, Trump posted 269 times on social media, mentioning Iran or the Strait of Hormuz.
Axios also wrote that during the first two months of the war, the White House was able to largely manage the media environment and prevent oil prices from rising, but this influence gradually weakened. The Strait of Hormuz is considered one of the world’s most important routes for oil transport, and any tension around it usually affects energy markets.
