"On Wall Street, TACO — Trump Always Chickens Out — has abruptly been replaced as a favorite meme by NACHO — Not a Chance Hormuz Opens. As a result, oil futures have soared. ...

So what is preventing the reopening of the Strait? Three factors:"

~ Paul Krugman

#Trump #Hegseth #Iran #war #StraitofHormus #oil #gas #economy #BrentCrude
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paulkrugman.substack.com/p/the…

The Logic of NACHO

The only available deal is no deal

^{Paul Krugman}

"Gas is $4.23 today. It was $2.98 sixty-one days ago. The blockade that is driving this price is now explicitly indefinite."

#Trump #Hegseth #Iran #war #StraitofHormus #oil #gas #economy #BrentCrude
/2

"Brent crude surged above $126 per barrel overnight — a new wartime high, the highest level since Russia’s full-scale invasion of Ukraine in 2022 — after President Trump formally rejected Iran’s diplomatic proposal and confirmed the US naval blockade of Iranian ports will remain in effect until Iran agrees to dismantle its nuclear program."

~ Rudy Martinez

#Trump #Hegseth #Iran #war #StraitofHormus #oil #gas #economy #BrentCrude
/1

restoftheworldreport.com/p/the…

The Rest of the World Report | April 30, 2026 — Morning Edition

Israel intercepted a civilian flotilla in international waters near Greece — more than 1,000km from Israel — jamming emergency communications and pointing weapons at activists. Turkey called it piracy. Greece said nothing.

^{Rudy Martinez (The Rest of the World Report)}