Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again
strikes on the UAE and then an expression of regret.”
Markets were unconvinced by the move from Trump, with oil hovering about $115 a barrel. The Taco trade (“[Trump always chickens out](https://www.theguardian.com/us-news/2025/may/29/trump-always-chickens-out-taco-investors-narrative)