Markets Have Often Moved After Trump’s Social Media Posts. A Study Suggests That is Fading.

President Donald Trump's ability to move oil markets through his social media posts appears to be dwindling.

Axios reported that it had conducted an analysis of the impact of Trump's posts on the price of oil. Over time, it appears that the impact of what Trump says in social posts has lessened.

Oil analyst Ben Cahill told Axios that initially markets "overreacted" to Trump posts. After the first few weeks, that began to change. Cahill told the outlet that, "for months now, the market has been tuning out social media posts because they just don't reflect the reality on the ground."

Brent Crude Oil reached a high of $114.44 on May 4. Since then, the price has come down but generally remained elevated. The price stood around $94 a barrel on August 21.

Throughout the conflict there have been repeated announcements of ceasefires and deals. Despite these attempts, those agreements have regularly fallen apart, leading to more hostilities. This has included repeated attacks on oil infrastructure by Iran throughout the Middle East.

President Trump has repeatedly said that the Strait of Hormuz was open and safe, only for Iran to once again impact shipping through attacks. The Strait is a crucial shipping lane that once was used to transport as much as 20 percent of the global oil supply.

Axios tracked 269 Trump social posts from February 28 through August 19. The analysis found that following a social post by Trump changes in the futures market was about four times higher than normal.

However, according to the website's analysis, the impact has dwindled, with Trump's social posts having a less dramatic effect on the markets.

"In the first couple months, I think the White House was quite successful in controlling the narrative and talking down the oil prices," Cahill told Axios. "But it has lost its effect."