Trump's Iran Stance Rattles Oil Market; Aramco CEO Reassures Amidst Warship Deployment

• US President Donald Trump's tough stance on Iran and deployment of warships in the Gulf region have heightened global crude oil market panic.
• Fears of military clash or Iran closing the Strait of Hormuz, a critical oil choke point, caused Brent and WTI oil prices to surge.
• Saudi Aramco CEO Amin Nasser reassured markets, stating the global oil market is "well supplied" and resilient to disruptions due to diverse supply sources.
• Analysts suggest closing the Strait of Hormuz would be risky for Iran, as 90% of its oil sales go to China, potentially worsening its economy.
• Despite initial market jitters, experts like Fitch Ratings and Rystad Energy believe global oversupply and diverse sources can mitigate major supply shocks.

Why It Matters: Trump's aggressive Iran policy caused oil market jitters, but Aramco CEO's reassurance calmed fears of a supply crisis.