Trump Says US Controls the Strait, But Talks Continue
Speakers
Tyler Kendall
— Multimedia Editor, Bloomberg
Summary
President Trump claims total US control over the Strait of Hormuz amid deadlocked talks with Iran. Oil prices are climbing as traders weigh disrupted supply routes and a steeper-than-expected quarterly drop in global inventories forecast by the IEA.
- Trump says the US controls the Strait of Hormuz and Iran will face force if it acts.
- Diplomatic talks show no breakthrough as both sides dig in.
- Oil flows through the Strait are around 9 million barrels per day, higher than expected.
- IEA forecast global oil inventories will drop more than twice the prior estimate this quarter.
- Houthi attacks continue in the Red Sea, adding to shipping risks.
- A senior US official says Trump is not in a rush to make a deal, relying on economic pressure.
