In the early hours of today, the global scene remains under the sign of large-scale geopolitical and trade moves by the US administration.
President Donald Trump continues to implement his doctrine of radical economic pressure and unexpected diplomatic turns, rearranging relations with direct enemies of the US and its closest allies.
Venezuelan oil as an “American trophy“ and the market shock
In another sharp statement, President Donald Trump officially called Venezuelan oil “American trophy“. This statement comes after a large-scale US control over Caracas' oil assets. The administration has announced that it has collected more than $13 billion in sales of Venezuelan crude oil, managed directly by Washington. A CNBC investigation (cnbc.com) indicates that U.S. refineries in the Gulf of Mexico now process most of the country's heavy crude. In addition, ABC News (abc.net.au) reports that Washington is putting unprecedented pressure on the interim government of Delcy Rodriguez to end energy ties with China and Russia. [1, 2]
Expert Economic Analysis: Wall Street energy analysts note that the complete redirection of Venezuelan crude oil to US refineries has stabilized domestic fuel prices in the US, but has deprived Asian markets of key volumes of heavy oil. Independent experts warn that such an aggressive confiscation policy sets a dangerous precedent in international energy markets, which could force other OPEC countries to seek alternative payment systems outside the dollar to protect their sovereign assets.
Timeline of the Strait of Hormuz conflict and the Iran deal
Amid the ongoing military conflict, Donald Trump surprisingly signaled that he hopes to reach a temporary agreement with Iran to open the strategic Strait of Hormuz. According to posts by Reuters (reuters.com) and CNBC (cnbc.com), the talks are being mediated by Oman. It has come to this after a dramatic timeline of events: [1, 2, 3]
- February – April 2026: Outbreak of open conflict after strikes by joint US-Israeli forces in Iran. The Pentagon strikes over 13,000 targets, and Tehran responds with massive drone and missile attacks. [1, 2]
- June 2026: Iran attacks a cargo ship in the Strait of Hormuz, leading to a complete blockade of the waterway by the US Navy. Brent crude oil prices are soaring. [1, 2, 3]
- July - August 2026: The blockade affects not only oil, but also the global technology sector, stopping the supply of helium from Qatar, necessary for the production of microchips in South Korea. Under economic pressure, Trump declares that "a deal is inevitable" and relies on diplomacy. WTI oil prices begin to fall slightly to levels around $75 per barrel. [1, 2, 3, 4]
The Trump-Hegsett clash and official reactions
This sudden diplomatic flexibility seems to be dictated by a serious internal problem. The authoritative publication The Washington Post (washingtonpost.com) revealed that Trump expressed sharp dissatisfaction and entered into a sharp clash with Defense Secretary Pete Hegsett during a meeting at Camp David. The president learned that the five-month war with Iran has led to a critical depletion of American weapons stocks. The US has used up nearly 65% of its Patriot interceptors and almost its entire arsenal of long-range ATACMS missiles. [1, 2]
Official responses: The White House reacted extremely sharply to the revelations. Press Secretary Caroline Leavitt categorically denied that there was a conflict at Camp David, calling the publication “100% fake news“ and assuring that the president has full confidence in Hegsett. Pentagon spokesman Sean Parnell also made an official statement, emphasizing that “Secretary Hegsett did not mislead anyone about the state of our ammunition, and the claims of depleted stocks and internal disagreements are pure fabrication“. Trump himself later stated through the media that the United States has “far more ammunition than anyone else in the world“. [1, 2]
Criticism of Europe, Yemen and new polysilicon tariffs
Trump did not fail to attack European partners, telling reporters that American allies in Europe lacked “strong troops“ and real defense readiness. Meanwhile, Vice President J.D. Vance publicly acknowledged tactical differences with Israeli Prime Minister Benjamin Netanyahu on the Middle East. Against this backdrop, NBC News (nbcnews.com) reported, citing national security sources, that hundreds of civilian casualties have been caused by intensive US airstrikes in Yemen against Houthi rebels.
On the economic front, the administration has refunded about $100 billion in previously collected tariffs to U.S. importers, aiming to ease domestic business. However, this does not mean an end to the trade wars. Leading economic agency Bloomberg (bloomberg.com) has learned that the U.S. intends to impose new 15% tariffs and minimum prices on polysilicon imports – a key raw material for solar panels and semiconductors, aiming to protect US manufacturing from Chinese expansion in the technology chain. [1, 2, 3]