March 9, 2026
Earlier today – President Trump told CBS that this war with Iran was pretty much complete…he also called it an “excursion” several times.
Interestingly enough – trump made that statement right before the stock market closed for the day. The Dow Jones industrial had been down all day and then Trump made that statement and the markets rallied and ended the day in positive territory obviously on the hope that this war would be over soon. And it wasn’t just the stock market that reacted… look at this – at around the same time as trump made the statement to CBS — the oil prices which had spent most of the day well over $100 a barrel – plummeted.
But then after the markets closed — when pressed by reporters at a press conference about when this war with Iran would be over – Trump would not commit to a timeframe.
I don’t know if that’s clear to you. But it’s not clear to me. While he wouldn’t give a timeframe for when it would be over – trump said who would be behind the decision.
In the meantime oil prices are going up for you and me. Trump said he knows.
So here’s the thing – the president is right. We do have a lot of oil and it doesn’t impact us. Now – I know you’re going to say – what do you mean it doesn’t impact us??? It impacts me I’m paying out the nose at the gas pump. Yes. You are. And the reason why is simple. We have oil supply in the United States because we have oil – and spoiler we get a lot of our oil from our friends in Canada – but as I have reported for literally years – it does not matter because oil is a global commodity – and just because we have ample supply doesn’t mean we’re immune from what’s happening on the global oil market. The global oil market and global supply and demand dictates the price for a barrel of oil throughout the globe. Not the United States alone and certainly not the president of the United States alone. The fact is – right now the global oil supply is being squeezed by the Iranians who have effectively shut down the Strait of Hormuz where about 20% of the world’s oil is transported and on top of that – a lot of the global oil supply comes from those middle east countries that are literally being bombed by Iran as we speak. So they can’t be pumping oil. That’s called an oil disruption on perhaps the biggest scale we’ve ever seen. And that’s why oil prices keep climbing and exactly why when president Trump claimed this war was going to be over those prices dropped. Are you getting how it works now? We’ll have to see what happens tomorrow now that trump became non-committal about when this war will end. Also – gas prices have increased 50 cents in the last week. And even if trump threw in the towel today and said we won – war is over – we’ve seen that it takes a while for gas price to come down – especially after they shoot up so dramatically.
Now I mentioned the Strait of Hormuz being effectively shut down by Iran. That’s because Iran says they will target oil tankers that go through the strait. Today – President Trump threatened they better not.
Watch Trump’s press conference here.
