The war seems to be getting away from Donald Trump, says Geopolitical Strategist | The Business

By ABC News (Australia)

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A post from US President Donald Trump on Truth Social has contributed to oil posting its biggest one-day gain since 2020. The price of crude oil jumped by more than 10 per cent in the space of 24 hours, on the back of rising tensions and the social media post from Donald Trump in which he said the US will "reinstate the Iranian blockade" and charge 20 per cent for ships' safe passage through the Strait of Hormuz. Former diplomat and chief strategist of consultancy firm, Geopolitical Strategy, Michael Feller says if it's feasible, it's going to come at a huge cost in military risk, that's why he says he doesn't think Donald Trump is particularly serious about this threat. However, Mr Feller says oil prices may be right to be higher because it seems that the war is getting away from Donald Trump, and it's likely he will TACO again. "It's not just him who's dictating the terms. Iran has, in the parlance of international relations, escalation dominance here," he says. #ABCBusiness Subscr

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