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How the oil market will react to Trump’s plan to help Hormuz ships
Posted
May 3, 2026
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May 3, 2026
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8:00Now PlayingWe are watching as tensions over the Strait of Hormuz continue to send oil prices climbing. This comes as President Donald Trump announces a plan to help ships that are stranded inside the vital waterway in the Persian Gulf. Last week, Energy Secretary Chris Wright did not show too much optimism when asked if gasoline prices in the U.S. will return to the $3 per gallon level anytime soon. LiveNOW’s Shawna Khalafi is speaking with oil analyst Tom Kloza as the oil market is set to react to Trump’s new plan.
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