Trump Claims Hormuz is 'Open For Business' | Balance of Power 04/17/2026

Watch on YouTube ↗  |  April 17, 2026 at 23:40  |  47:53  |  Bloomberg Markets
Speakers
Jake Auchincloss — U.S. Congressman (D-MA), Marine Reservist
Neil Bradley — Director of Policy, CryptoUK
Mike McGlone — Senior Commodity Strategist, Bloomberg Intelligence
Josh Wingrove — White House Reporter, Bloomberg

Summary

President Trump's announcement that the Strait of Hormuz is open sparked a market rally and drop in oil prices, but experts and politicians caution that the situation remains uncertain. The video covers the impact on small business sentiment, energy markets, and political messaging ahead of the midterms, with analysis from Bloomberg Intelligence and the U.S. Chamber of Commerce.

  • President Trump claims the Strait of Hormuz is open and a deal with Iran is close, leading to lower oil prices.
  • Oil prices fell sharply on the news, but uncertainties persist about shipping flows and Iranian commitments.
  • Small business sentiment has declined due to the conflict, affecting hiring and investment plans.
  • Mike McGlone from Bloomberg Intelligence expects oil prices to drop to $50 and discusses cycles in natural gas and metals.
  • The political panel analyzes the challenges for the Trump administration in selling the outcome to voters, especially young conservatives.
  • Congress passed a short-term extension of Section 702 of FISA for surveillance authority.
  • Air Canada suspends flights to JFK due to high jet fuel costs exacerbated by the conflict.
  • The stock market rallied on optimism but faces potential downside from upcoming economic data.
Trade Ideas
Jake Auchincloss U.S. Congressman (D-MA), Marine Reservist 5:19
Watch oil prices and maritime insurance.
Investors should ignore President Trump's claims and instead monitor energy prices (spot and futures) and Lloyd's maritime insurance premiums to assess the reality of the Strait of Hormuz situation, as these indicators reflect actual market conditions rather than political statements.
USO Lloyd's maritime insurance premiums MED
Neil Bradley Director of Policy, CryptoUK 16:42
Watch aviation fuel and fertilizer sectors.
The Middle East conflict has reduced small business sentiment and future planning for investment and hiring; energy prices and shortages in aviation fuel and fertilizer will take time to normalize, indicating areas to watch for economic impact.
CF JETS MED
Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 25:45
Natural gas prices to decline.
Natural gas prices have surged but are now declining year-over-year, and the cyclical pattern suggests they will continue to go back down, following a similar trajectory to previous corrections.
UNG MED
Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 26:48
Stock market to decline on bad data.
The stock market's recent optimism is unwarranted because economic data will show poor conditions in the coming months, leading to a decline in stock prices as the reality sets in.
SPY MED
Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 30:37
Gold is speculative and expensive.
Gold has become a speculative asset with high volatility, and at current levels it is too expensive and not a store of value; its performance is dependent on the stock market rather than acting as a safe haven.
GOLD MED
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This Bloomberg Markets video, published April 17, 2026, features Jake Auchincloss, Neil Bradley, Mike McGlone discussing USO, Lloyd's maritime insurance premiums, CF, JETS, UNG, SPY, GOLD. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jake Auchincloss, Neil Bradley, Mike McGlone  · Tickers: USO, Lloyd's maritime insurance premiums, CF, JETS, UNG, SPY, GOLD