Trump: Oil Traffic Through the Strait of Hormuz Has Returned to Pre-War Levels

Washington - Afaq News - U.S. President Donald Trump stated that oil traffic through the Strait of Hormuz has returned to pre-war levels, noting that millions of barrels of oil have crossed the strait in the past two days.

Trump added that the United States is in a 'very good' position, while Iran, as he described, is facing a severe economic crisis.

The U.S. president continued that the Iranian oil minister has resigned, considering that the resignation reflects the magnitude of the crisis facing Tehran, stating that the Iranian economy has 'collapsed' and inflation is nearing 300%.

Trump's statements come at a time when recent data shows a significant recovery in oil exports from the Gulf region; Reuters reported that crude oil and condensate exports from the region exceeded pre-war levels on some days in September, primarily driven by increased exports from Saudi Arabia and the use of alternative routes.

Iranian Oil Minister Mohsen Paknejad had resigned at a time when Iran is facing an economic crisis and a sharp decline in oil revenues, while reports indicated that the inflation rate within Iran has reached high levels, although the circulating figures differ from Trump's estimate.