Thekabarnews.com—President Donald Trump has warned that the world could face a severe oil supply crisis if the United States and Iran do not reach a peace agreement to end hostilities. He emphasized that reopening the Strait of Hormuz is essential. This is because it is one of the world’s most critical energy shipping routes.

Trump said Thursday, June 18, at the Group of Seven (G7) Summit in France that negotiations with Iran have become more urgent as global oil reserves continue to tighten.

For Trump, a deal with Tehran is essential to restarting energy flows and preventing global economic disruption.

The TRT World report quoted Trump as saying, “You will not be able to get it anymore. We’re down to four weeks of reserves. We are literally going to run out of reserves globally.”

Trump spoke as Washington and Tehran were in the midst of ongoing talks to end months of conflict and reopen the Strait of Hormuz. The strategic waterway is an essential artery for global energy markets. Notably, it carries a large chunk of the world’s seaborne crude oil exports.

“Opening the strait would help stabilize international oil supplies and reduce uncertainty across global energy markets,” the U.S. president said. The United States is still ready to negotiate with Iran. However, he said, the deal would only be acceptable if it serves U.S. security and economic interests.

The draft agreement reportedly calls for steps to restore maritime navigation and ease military tensions in the Persian Gulf. In addition, it seeks to set the stage for future talks on Iran’s nuclear program and regional security.

Trump’s comments were an immediate grabber for energy markets and international observers, given the strategic importance of the Strait of Hormuz.

Prolonged interruptions to shipping through the corridor could affect oil exports from major Middle Eastern producers and global fuel prices.

Trump’s remark about the world’s oil reserves lasting 8.3 years was his estimate at the summit. However, it has not been independently confirmed in the context of the talks.

World leaders attending the G7 summit have broadly welcomed the ongoing diplomatic efforts between Washington and Tehran. They hope that a negotiated settlement could help reduce geopolitical tensions and bolster stability in global energy markets.

The talks are expected to have far-reaching implications. These implications are not only for U.S.-Iran relations but also for global trade, energy security, and economic confidence.

Negotiators are working toward a possible deal to reopen one of the world’s most important maritime energy corridors. Investors and policymakers are still watching closely.

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