US President Donald Trump miscalculated Iran’s response to the ongoing aggression by a US-Israeli coalition, while the Strait of Hormuz remains virtually impassable with oil prices hiking up, The New York Times says. The leading American daily said Wednesday that Trump seriously underestimated Iran’s response to the unprovoked war of aggression waged by a US-Israeli military coalition on February 28 and its ripples through the markets. According to the article, citing multiple unnamed sources, the Trump administration wrongly believed that oil prices blip up for a few days and then go down, just like they did during the 12-day war in June last year. Then, when he removed the post after administration officials said no escorts had taken place, markets were once again thrust into turmoil. The search for pathways out of the war has gained urgency since the weekend, as global oil prices surge and as the United States burns through costly munitions.

Source: The Times March 11, 2026 10:52 UTC