Trump's Biggest Blunder: Oil Prices Return to $100 as Hormuz Crisis Threatens Global Supply

Global oil prices have returned to the threshold of $100 per barrel as instability in the Middle East raises fears of a major disruption to global energy supplies. The oil market has been extremely volatile in recent days, with futures prices surging by 28 percent, then falling by 30 percent before climbing again by another 10 percent. Traders reacted to statements by Donald Trump, the president of the United States, about releasing strategic petroleum reserves and his claims that victory over Iran is approaching. However, analysts argue that these measures alone will not stabilize global energy markets.