US EditionTrump discusses extended Strait of Hormuz, Iran blockade with energy executives
The meeting focused on ways to keep oil flowing and limit consumer price increases as Brent crude topped $117 a barrel, officials said.
- On Tuesday, President Donald Trump met with executives from Chevron Corp., Trafigura Group, Vitol Group, and Mercuria Energy Group Ltd. to discuss extending the U.S. blockade of Iranian ports and pressure Tehran's economy.
- Administration officials are preparing for a protracted standoff with Iran roughly three weeks into a ceasefire that halted bombing but failed to yield a nuclear deal breakthrough, making the blockade central to U.S. strategy.
- The near-closure of the Strait of Hormuz has blocked about 13 million barrels of crude daily, while global crude futures surged to $117 a barrel on Wednesday as markets react to potential supply disruptions.
- Participants discussed maintaining the blockade while minimizing impacts on American consumers, a priority as rising commodity prices weigh on the administration ahead of November midterm elections that will determine Republican Party control of Congress.
- Treasury Secretary Scott Bessent claims "Iran's creaking oil industry is starting to shut in production" due to the blockade, aiming to deprive Tehran of revenue through forced well closures.
24 Articles
24 Articles
Trump met with oil firms on possible months-long extension of Iran blockade
U.S. President Donald Trump met with top officials from Chevron and other energy companies on Tuesday to talk about possible steps to calm oil markets if the blockade of Iranian ports continues for months, a White House official said on Wednesday.
Trump sees blockade extension as best option for forcing Iran back to the negotiating table
President Donald Trump has told his top advisers in recent days he wants the US naval blockade of Iranian ports to continue, sources familiar with the talks said, and his team has begun laying the groundwork for such an extension, including a longer-term closure of the Strait of Hormuz.
Trump Meets Oil Executives As Middle East Supply Disruptions Push Global Energy Markets Higher: Report
President Donald Trump met Tuesday at the White House with senior oil and gas executives and top administration officials to discuss ongoing disruptions in global energy markets, including tightening
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