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Trump says US holds cards, Hormuz closure spikes oil

4/26/2026

26 3 Full Breakdown

Center

Trump Claims Leverage

President Donald Trump said the United States holds “all the cards” and that Iran’s leadership suffers “tremendous infighting and confusion.”
U.S. naval actions keep the Strait of Hormuz largely closed, keeping Brent crude about 50% above pre-war levels.
He cancelled the planned Islamabad trip of special envoy Steve Witkoff and son-in-law Jared Kushner.
The ceasefire among the United States, Israel and Iran continues unchanged.

Left

US Blockade Chokes

The U.S. naval blockade is choking Iran’s economy, sparking shortages of oil, plastics, fertilizer and food, with Tehran prices quadrupling.
A ceasefire between the United States, Israel and Iran continues to hold.
Five ships crossed Hormuz, from 130, as Treasury froze $334 million crypto and sanctioned 40 firms.
Iran ministry says blockade violates ceasefire, and notes US warning mine clearing may take months.

History

Historical Context

The 1979 Iranian Revolution led Ayatollah Khomeini’s students to seize the U.S. embassy on 4 November, holding 52 diplomats for 444 days until the Algiers Accords freed them in January 1981 after the U.S. froze about $8 billion of Iranian assets. That precedent of maritime pressure informs today’s U.S. naval blockade of the Strait of Hormuz, a standoff with Iran over oil.

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Trump Claims Leverage

President Donald Trump said the United States holds “all the cards” and that Iran’s leadership suffers “tremendous infighting and confusion.”
U.S. naval actions keep the Strait of Hormuz largely closed, keeping Brent crude about 50% above pre-war levels.
He cancelled the planned Islamabad trip of special envoy Steve Witkoff and son-in-law Jared Kushner.
The ceasefire among the United States, Israel and Iran continues unchanged.

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