Trump calls alleged Iranian oil tanker attacks "very minor"

The intrigue: "Trump argued that the Gulf of Oman is less strategically important for the United States now than it used to be," the magazine reports.

• “Other places get such vast amounts of oil there,” Trump told Time. “We get very little."
• Last Friday, he backed up Secretary of State Mike Pompeo's accusation that Iran is responsible for the attacks: "Iran did do it. You know they did it because you saw the boat, I guess one of the mines didn't explode and it's probably got essentially Iran written all over it."

Quick take: It's true that U.S. crude imports from the region have been plummeting for years as U.S. production has surged, as Bloomberg's Javier Blas notes.

• But roughly 18 million barrels per day — nearly a fifth of global demand — pass through the Strait of Hormuz.

The bottom line: Closure of the passage or a major conflict in the region would nonetheless send oil prices skyrocketing, affecting U.S. consumers and industries.

Go deeper: Pentagon releases additional photos alleging Iran behind oil tanker attacks