Rory Johnston, an oil market researcher and founder of Commodity Context Communications, said that the ability to influence the market may be the last resort the government uses to control gasoline prices. “The Trump administration has cut America's strategic oil reserves to their lowest level since President Ronald Reagan's first term.” He also said, “The market is convinced that in the end Trump will make decisions and make concessions on certain issues, probably symbolically relinquishing part of his control over the Strait of Hormuz,” he said. “Therefore, the market will continue to look for any signs of a change in his position.” Meanwhile, Patrick DeHan, head of petroleum analysis at the pricing service GasBuddy, said that Trump's “credibility” in influencing the market has indeed declined, but it has not completely disappeared. “I don't think the credit will go completely to zero,” he said. “However, it's hard to say when exactly it will completely fail.”

Rory Johnston, an oil market researcher and founder of Commodity Context Communications, said that the ability to influence the market may be the last resort the government uses to control gasoline prices. “The Trump administration has cut America's strategic oil reserves to their lowest level since President Ronald Reagan's first term.” He also said, “The market is convinced that in the end Trump will make decisions and make concessions on certain issues, probably symbolically relinquishing part of his control over the Strait of Hormuz,” he said. “Therefore, the market will continue to look for any signs of a change in his position.” Meanwhile, Patrick DeHan, head of petroleum analysis at the pricing service GasBuddy, said that Trump's “credibility” in influencing the market has indeed declined, but it has not completely disappeared. “I don't think the credit will go completely to zero,” he said. “However, it's hard to say when exactly it will completely fail.”