US EditionTrump tells aides to prepare for lengthy Hormuz blockade, WSJ says
Trump chose a blockade strategy that officials said could keep pressure on Iran's oil exports while avoiding a new bombing campaign.
- Oil prices rose on Wednesday following reports that President Donald Trump instructed aides to prepare for an extended blockade of Iran, potentially prolonging supply disruptions from the Middle East.
- Despite a ceasefire in the US-Israeli war with Iran, the conflict remains deadlocked, with Iran shutting shipping flows through the Strait and Hormuz, a conduit for about 20 per cent of global oil.
- West Texas Intermediate futures rose 57 cents to $100.50 a barrel, while the American Petroleum Institute reported crude stocks fell by 1.79 million barrels and gasoline inventories dropped 8.47 million barrels.
- Analysts warn that supply disruptions will worsen if Trump continues to squeeze Iran's exports, as Brent crude futures rose 52 cents to $111.78 a barrel.
- The Wall Street Journal reported the U.S. is pressing for an end to Iran's nuclear weapons programme, while Iran is demanding reparations and an easing of economic sanctions.
119 Articles
119 Articles
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.
Brent crude oil hits highest price in 10+ years
Oil prices shot higher on Wednesday on concerns of an extended blockade of the Strait of Hormuz, while Wall Street stocks mostly slid as investors awaited a US Fed rate decision and a slew of tech firm earnings. Both main oil contracts jumped nearly six percent after President Donald Trump warned Tehran on Wednesday that it should “get smart soon” and capitulate to Washington’s demands for tight controls on its nuclear programme, as a US naval b…
Oil prices continued to rise following reports that the United States is preparing to extend its blockade of Iran, a major obstacle hindering progress in negotiations.
No More Bombs for Iran, Economic War Instead? - The Ron Paul Institute for Peace & Prosperity
Trump assembled his national security team in Washington on Monday afternoon to figure out how to respond to Iran’s latest missive delivered via Pakistan — i.e., end the blockade and then we’ll talk about other issues. The Wall Street Journal reports that Trump opted for economic warfare against Iran as it carried less risk, instead of resuming bombing or trying to exit the conflict. That’s the good news. However, President Trump also instructed…
With the actual closure of the Hormus road, Iran is pushing up oil and gas prices worldwide. But now the regime in Tehran is also under pressure.
Donald Trump urged Tehran on Wednesday to accept negotiations with the US and sign an agreement, Wall Street Journal reporting that the President is ready to continue the blockade imposed on Iran, which pressures the regime economically, but also generates problems for the rest of the world. President Donald Trump asked his advisers to prepare for an extended blockade of Iran, ...
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