Oil markets were bracing. Then, on August 2, 2026, Donald Trump posted on Truth Social that he was calling it off. Gulf stock markets, including Saudi Arabia’s Tadawul, reversed negative trends that had built through July and climbed in early trading on August 3. Trump’s Truth Social post signaled he was standing down for now, influenced by Gulf allies’ appeals. If the Strait of Hormuz reopening framework gains traction and actually results in smoother energy flows, that’s a supply-positive development for oil markets.