Trump again proves he does not know how global markets function.
Truth Social
All of those countries that can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to get involved in the decapitation of Iran, I have a suggestion for you: Number 1, buy from the U.S., we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT. You’ll have to start learning how to fight for yourself, the U.S.A. won’t be there to help you anymore, just like you weren’t there for us. Iran has been, essentially, decimated. The hard part is done. Go get your own oil! President DJT
That reflects a stunning combination of economic illiteracy, childish playground thinking, and severe narcissism.
Number 1 We Don’t Have Plenty
As of late March 2026, U.S. jet fuel prices have surged roughly 83-88% due to Middle East conflict-driven shortages, reaching over $4.60 per gallon.
Key Price Comparison
- U.S. Jet Fuel: Prices spiked to around $4.62 per gallon (roughly $167–$194 per barrel), a sharp increase of 83-88% since late February.
- Global Jet Fuel: Global prices are generally higher and more volatile. In Singapore, prices rose by over 114%, surpassing $200 per barrel and peaking near $240, while European prices also soared toward $200 per barrel.
- Regional Differences: North America has experienced lower, albeit significant, increases compared to global markets, where shortages in Asia and Oceania have caused more severe price jumps.
- Overall Impact: According to the International Air Transport Association (IATA), the global average for jet fuel has doubled due to supply disruptions in the Persian Gulf.
Lose-Lose Setup
While US prices are high, global prices have seen sharper increases. This is a lose-lose setup.
If the US had plenty of jet fuel, US prices would not be up 88 percent. To the extent others feel compelled to “buy from us”, prices will rise further.
It is beyond the economic comprehension of Trump to understand how global markets function. This is not an opinion, it’s a repeatedly proven fact.
Number 2, build up some delayed courage, go to the Strait, and just TAKE IT.
Excuse me for asking, but Dear Mr. Trump, why don’t you just go to the Strait and take it?
“It’s the equivalent of setting your neighbor’s house on fire and then being pissed they didn’t stay inside, run the faucets, and fight the blaze from inside,” says US Senator Chris Murphy.
This is insane.
It's the equivalent of setting your neighbor's house on fire and then being pissed they didn't stay inside, run the faucets, and fight the blaze from inside. https://t.co/g5ceZtOcpz
— Chris Murphy 🟧 (@ChrisMurphyCT) March 31, 2026
Emotional Immaturity
Tweet of the Day: This is a typical narcissistic personality disordered vindictive other blamer: demanding others fix the problem they caused while always blaming others for it. They can never take responsibility for the harm their behavior causes. It’s emotional immaturity at its most severe.
Best 10 Months in History of the US
Trump ranks his second term: "Already they are saying better than Lincoln, better than Washington, better than everybody. The best 10 months ever in the history of the presidency." (December 2025) @atruparpic.twitter.com/1hkxa3mGdp
— The Intellectualist (@highbrow_nobrow) March 31, 2026
This is so beyond stupid, what do you even say?
One Year On: The Greatest Economic Own Goal in Living Memory
One Year On: The Greatest Economic Own Goal in Living Memory
A year ago, Donald Trump stood in the Rose Garden, surrounded by charts nobody understood, and declared war on mathematics. He called it Liberation Day. The Financial Times, along with every economist who has read more… pic.twitter.com/vRMI5Fd1zC
— Gandalv (@Microinteracti1) March 31, 2026
Why Listen to Trump?
A friend of mine says he no longer listens to anything Trump says. After all, what’s the point of listening to lies after lies after lies?
That’s a valid idea.
Some do it for the entertainment value. I am sure comedians and writers follow Truth Social constantly. Trump provides endless statements that one can use to mock him.
But it’s more than that. Trump is not just grossly incompetent. He’s increasingly unstable emotionally. It is a very dangerous combination for national security.
Unfortunately, the House and Senate are too fearful of Trump to say or do anything about it.
Meanwhile, Gasoline Prices Top $4 First Time Since Aug 2022, Diesel $0.36 from Record
The small price to pay keeps rising.
- Fertilizer: The fighting has stranded big chunks of the world’s supply of ammonia, urea, sulfur and phosphates.
- LNG: It has also choked off roughly 20% of the supply of liquefied natural gas, or LNG, which fertilizer makers in Europe and elsewhere need to generate the tremendous amounts of electricity necessary to convert atmospheric nitrogen into plant food.
- Aluminum: As with urea, Qatar has shut down its aluminum production.
- Helium: Helium is an essential coolant in MRI machines and semiconductor manufacturing. The U.S. produces the most helium, yet Qatar accounts for about 35% of world capacity. If its output remains offline for another four to eight weeks, supplies will be stretched and could cause problems for chip makers, said François Jackow, chief executive of industrial gas supplier Air Liquide.
- Plastics: Investors expect domestic producers to be able to raise prices in step with import-reliant rivals that face more expensive byproducts of oil-and-gas production and processing. Naphtha, ethane and propane are the building blocks of plastics.
- Cotton: Higher plastics prices have driven traders into cotton futures. The more pricey polyester and other synthetics are, the more clothing and textile makers shift to cotton, prices of which have been depressed. Cotton futures are up just 4.6% this month, but they hit 70 cents a pound Friday, the highest price since December 2024.
Socks surged today on news Trump no longer intends to open the Strait.
For discussion, please see An Interesting Mix: Stocks up, Oil Up, Gold Up, Long Bond Flat
Don’t expect the good news to last. It’s primarily a technical bounce.
Article posted with permission from Mish Shedlock
