Gate News reports that on March 8, as U.S. military actions against Iran triggered a surge in oil prices, the policy toolbox was nearly exhausted. Experts warn that without a quick reopening of the Strait of Hormuz (a critical global oil transportation route), all other measures taken by Washington will be little more than a drop in the bucket.
Some experts criticize the Trump administration’s crisis management approach. Michael Alfaro, Chief Investment Officer of Gallo Partners, an energy and industrial hedge fund, said, “In the past 48 hours, many policy decisions or signals from the government have shown a frantic attempt to soothe the oil market.” He warned that if there are no signs of the Strait of Hormuz reopening by Monday, commodity prices will experience a new surge.
However, there are also defenders of the White House’s strategy. Dan Brouillette, who served as Energy Secretary during Trump’s first term, stated that the government has a longer-term perspective than financial markets. “High oil prices are only temporary. Now is the time to remove this regime and completely end its decades-long extortion over the strait.”
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