President Donald Trump has suggested a potential joint control of the strategically crucial Strait of Hormuz, a crucial waterway that carries about 20% of global oil supplies. While addressing the press, Trump suggested that the strait could reopen if successful in talks with Iran, but remained ambiguous about the partners in control. He also mentioned that recent strikes had targeted much of Iran's senior leadership, suggesting a potential regime change. This announcement follows a five-day pause on U.S. strikes against Iranian energy infrastructure following "very good and productive" talks with Russia. The move immediately led to a more than 8% drop in oil prices, marking the biggest de-escalation since Operation Epic Fury began.