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Oil Prices Drop Over 10 Percent as Iran Declares Hormuz Strait 'Completely Reopen' 94%
4/18/2026, 4:31:05 AM
BS Summary: This video contains 31 faulty reasoning types, including Negativity Bias, Hasty Generalization, and Ambiguity (Equivocation), with Framing Effect as the most egregious example at 24.4% saturation with 116 hits. Analysis detected 1,326 faulty-reasoning hits from 475 analyzed words, generating a BS Score of 89.4% and a BS Rank of 94% (1,423 of 21,887 videos). This video is worse (more manipulative) than 93.50% of the video peer group.
And as we just heard, the Strait of
Hormuz is open again and oil prices are dropping sharply.
Now, Commerce Secretary Howard Lutnick is signaling potential shifts in US trade policy from North America to China, which could reshape the broader economic outlook.
NTD's Washington correspondent Jack Bradley brings us more.
With Iran announcing the Strait of Hormuz is now fully open, the price of oil is dropping.
On Friday morning, oil prices fell around 10% from around $98 to $86 a barrel.
The Straits of Hormuz were just announced an hour ago that they're open.
Uh
and and ships are moving. So, the price of oil dropped 10% this morning.
Commerce Secretary Howard Lutnick at the Semafor World Economy Summit in Washington remains optimistic that the US GDP will grow 6% under President Trump, which is nearly $2 trillion.
We're used to terrorism being part of our society, and the concept of breaking terrorism is a unique concept
that hasn't really been driven into the risk premium of the world.
Lutnick also says that President Trump is unhappy with the current US-Mexico-Canada trade agreement.
>> I think he thinks it's a bad deal. The
US is due to renew or change the agreement in July, but as it now stands,
Lutnick says that it's a negative for US manufacturing.
The concept of taking an auto plant out of Ohio and Michigan and putting it in Mexico to break the union and to break our people is nuts.
Lutnick also says Canada has an unfair trade imbalance with the US.
>> Former top Canadian trade negotiator said the other day, "You guys are in political trouble.
The longer they wait, the better deal you're going to have to have to
do."
Good for them. That is like the worst strategy I've ever heard.
>> While Canada makes new deals with China, Prime Minister Mark Carney has eased Canada's ban on Chinese-made electric vehicles.
The move sparked widespread criticism from Canadian automakers and lawmakers, warning it threatens Canadian jobs.
We are a $30 billion economy, right? We are the consumer of the world.
Okay? Carney has a problem with us.
He gets on a plane and he goes to China.
Does he think China's the Chinese economy is going to buy his stuff? China is entirely an export-driven economy.
Right? So, what did he do? He came back and said, "Oh, we'll take their electric cars."
When asked if Chinese automakers like BYD are going to be building factories in the US, Lutnick responded simply, No.
Um
As the Strait of Hormuz remains open and oil prices fall, the bigger question now is whether this moment is just short-term relief or the start of lasting change.
For NTD News Washington, I'm Jack Bradley.
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