Trump opts to pressure Iran’s economy as Hormuz dispute drags on
Brent rose to US$84,45 a barrel as traffic through the Strait of Hormuz fell to eight crossings on Friday.
President Donald Trump said Washington is now preparing three options against Iran, but he stressed economic pressure rather than immediate military escalation. In an interview cited Tuesday, Trump said the U.S. could "hit" Iran, keep squeezing its economy, or use a combination of steps now being carried out. At the same time, the dispute over reopening the Strait of Hormuz remains unresolved. Iran is negotiating with Oman over shipping route details, but Foreign Minister Abbas Araghchi said the agreement does not automatically reopen the passage fully. The tension has started to shake energy markets: Brent crude rose 1.1 percent to US$84,45 a barrel, while WTI reached US$78,98. According to a report cited by CNBC Indonesia, traffic through the Strait of Hormuz on Friday totaled only eight crossings.
Sources
Earlier in this story
- 5 hours agoPakistan says US-Iran Hormuz talks near deal as oil eases
- 14 hours agoIran Holds Opening of Strait of Hormuz Pending U.S. Demands
- 18 hours agoTrump opts to pressure Iran’s economy as Hormuz dispute drags onreading now
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- Aug 10Trump shifts to economic pressure as Iran stalls Hormuz deal
- Aug 10Iran sets new U.S. terms, stalling Strait of Hormuz reopening
- Aug 10Top U.S. general maps exit strategy from war with Iran
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- Aug 9Iran nears Oman shipping deal but keeps Hormuz shut for now