US President Donald Trump made noteworthy statements regarding developments in the Strait of Hormuz and the ongoing negotiations with Iran. Trump stated that ship traffic in the strait has picked up again, recording the highest number of passages since the closure began. According to him, 34 ships passed through the Strait of Hormuz in the last 24 hours alone.
Developments also reflected in energy markets, with US crude oil prices reportedly giving back their intraday gains and falling below $100 per barrel.
Referring to the nuclear negotiations with Iran, Trump stated that he believes the Tehran administration is now closer to an agreement. The US President said that Iran contacted him earlier that morning and expressed their desire to reach an agreement. He also indicated that the issue could be resolved before the tankers reach the US.
Trump, while painting an optimistic picture of the process, said, “I think we will solve the Iranian nuclear issue,” adding, “we will completely reverse the nuclear issue.” On the other hand, he argued that there were numerous oil tankers heading towards the US, and that this could affect global energy flows.
Trump also stated that some countries would be involved in resolving the crisis in the Strait of Hormuz, adding that details on this would be announced in the coming days.
*This is not investment advice.