Oil Prices Climb as Hormuz and Bab Al-Mandab Disrupt Global Supply

Trump’s tit-for-tat war with Iran escalates. You pay the price.

Two Straits Closed

The strait of Hormuz is again closed after the ceasefire broke down (thank Trump). Now the Houthis have blocked the Red Sea route for oil in the Bab Al-Mandab Strait.

10 Ships Turn Back

Second Naval Blockade

#Statement | #Yemen Condemns Houthi Terrorist Attack on #Saudi Vessels in the Red Sea ????https://t.co/lSsQTPTccD pic.twitter.com/BqglRmvokV

— وزارة خارجية الجمهورية اليمنية (@yemen_mofa) July 23, 2026

Trump Will Hold Iran Responsible for the Houthis

Truth Social: A year ago the United States of America attacked, very powerfully, the Houthis, for their interference with commerce and trade, by shooting at ships. Since that time, and during our conflict with Iran, they have acted very responsibly. Unfortunately, now they are starting up again, shooting at two Saudi Arabian ships last night. Please let this TRUTH serve to represent that if they do this again, the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves, who I am very disappointed with in that they have, until now, acted very professionally and smart. Thank you for your attention to this matter! President DONALD J. TRUMP

Jul 23, 2026, 6:16 AM

In other news, I am holding my neighbor responsible if anything happens to my cat.

My neighbor has been has been notified and he is on full alert.

Oil Prices Hit $100 a Barrel While Tech Selloff Deepens

The Wall Street Journal comments Stock Market Today: Oil Prices Hit $100 a Barrel While Tech Selloff Deepens

are back above $100 a barrel, and investors are dumping tech stocks amid fresh worries that hyperscalers are overspending on AI.

U.S. stocks are deep in the red after earnings from Google and stoked fears about Big Tech’s AI spending. fell 7% after raising its capital spending forecast for this year to as much as $205 billion, while Tesla tumbled 14% after its free cash flow turned negative in the second quarter. The moves helped pulled the 2.7% lower, while the have shed 600 points.

Money Quote

Trump is always more belligerently foolish as long as the stock market is behaving.

Well the stock market is not behaving. Neither is oil or the bond market.

now yields 4.700 percent. is on the verge of a major breakout at 5.171 percent having touched 5.189 percent.

So, will Trump TACO again?

The problem is it is increasingly difficult for him to do so, a problem of his own making.

Yet, the national average is up another three cents to $4.09 per gallon. Diesel is $5.20.

If this escalation continues for another week or so gasoline and diesel prices are headed for record highs.

But don’t worry. Trump will blame Biden. Besides, as we have established, this is a small price for opening the strait that was open before Trump started this insane war.