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Trump warns Iran blockade, oil climbs, studies German troop cuts

4/30/2026

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Summary

Story summary

U.S. President Donald Trump warned a blockade of Iranian ports could last months, sending Brent crude to $119.94 a barrel and to four-year highs.
Donald Trump said the U.S. is studying a reduction of troops in Germany.
Friedrich Merz said Europe suffers from the Strait of Hormuz closure and urged a resolution.
Donald Trump accused Friedrich Merz of supporting Iran’s nuclear ambitions and claimed Germany’s economy is performing poorly.

History

Historical Context

In October 1973, OAPEC—led by Saudi Arabia’s King Faisal—cut production and imposed an oil embargo on the United States and other Israel supporters. Crude prices jumped from about $3 to nearly $12 per barrel, a rise of roughly 300%, spurring the U.S. Strategic Petroleum Reserve. Trump’s warning that a Hormuz blockade could push Brent above $119 recalls that same supply-shock dynamic.

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Story summary

U.S. President Donald Trump warned a blockade of Iranian ports could last months, sending Brent crude to $119.94 a barrel and to four-year highs.
Donald Trump said the U.S. is studying a reduction of troops in Germany.
Friedrich Merz said Europe suffers from the Strait of Hormuz closure and urged a resolution.
Donald Trump accused Friedrich Merz of supporting Iran’s nuclear ambitions and claimed Germany’s economy is performing poorly.

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