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Duffy Claims Gas Prices Will Fall Immediately After Hormuz Reopens Authored by Tom Ozimek via The Epoch Times, U.S. Transportation Secretary Sean Duffy said on Sunday that gasoline prices should begin to decline “immediately” once shipping resumes through the Strait of Hormuz, pushing back against analyst warnings that relief for consumers could take months. Duffy, speaking on ABC’s “This Week” program on May 3, acknowledged that prices may take time to return to pre-war levels but said reopening the critical oil transit chokepoint would quickly ease pressure at the pump. “Once the Strait...

HSBC Warns Of Commodity "Super-Squeeze" As Goldman Hikes Copper Forecasts Copper is inching closer to its mid-May all-time high of $14,153 a ton on the London Metal Exchange, trading around $13,832 on Tuesday morning, as Goldman raised its year-end price targets and HSBC warned that commodities face a "super-squeeze" with the Hormuz maritime chokepoint still largely shuttered in early June. Let's begin with HSBC analysts, who wrote in a note to clients that "metal prices are generally in an upswing, driven by supply disruptions for some commodities due to the Middle...

Trump Says "Perimeters Of A Deal Reached" With Iran To Reopen Hormuz After Call With Saudi Crown Prince The past few days have been tense. Although no US strikes were launched from Friday night into Saturday morning and the Gulf region remained quiet early Sunday, anticipation surrounding President Trump's next move is keeping energy traders and Gulf governments on edge. The big concern is that another round of strikes could trigger a wider regional conflict, particularly as the Iranian-backed Houthis have reactivated offensive operations in the southern Red Sea in...