Trump's Hardball: Oil Crisis Escalates

0:00On March 31st, Iran shut down the Strait of Hormuz, right as the Middle East war kicked off, sparking the worst oil crisis ever with prices racing, toward $200 a barrel. That waterway handles about 1-5th of the world's daily oil and liquefied natural gas supply, so global energies in chaos. President Trump started strong, bowing the U.S. economic and military power would keep tankers safe with escorts of needed, plus cheap insurance for, shipping lines. But patience wore thin fast, he hit Iran with ultimatums, threatening to strike 20 times harder if they didn't reopen it and clear any minds. NATO allies like Germany, the UK, and others, said no to sending warships, calling it not their fight in risking escalation. Trump fired back, labeling them paper tigers and cowards, who owe the U.S. big time for handling Iran alone. Lately, Trump's flipped the script, telling countries hoped on that oil to police to strait themselves while the U.S. helps out.

1:00He chatted with UK Prime Minister Keir Starmer about reopening it, but basically said, Europe should get its own supply as shortage is biting. Now with deadlines extended and vague hints of some oil-related deal from Iran, the crisis drags on, testing alliances and jacking of costs. Not wide Trump's playing hardball, but the flow stays blocked.