Lol, Trump thought he ate. After all, Trump said that US doesnt need the oil from Hormuz. He is right though as US is the largest LNG exporter while China is the largest importer of LNG. Airlines have increased air fares, fuel surcharge including reducing capacity. AAX downside has been priced in at the moment unless the oil price stays elevated at USD100/above for months from now. The upcoming May meeting will be the one to watch. Early of this year - Venezuela, Mar - Iran. Both are oil producing country and China is the major importer of Venezuela and Iran's oil. April's liberation day - China retaliated back with tariffs and rare earth export control and Trump TACO (Trump always chickens out) :) Both US and China agreed for a one year pause. The rare earth export control is a strong leverage against the US :) Trump is thinking using oil as the leverage against China.