Iran Disputes Trump's Claims of US Control Over Strait of Hormuz as Oil Flows Halt
President Trump claimed the US has total control of the strategic Strait of Hormuz and said he might keep it, but Iran's Foreign Minister warned Washington to "be careful" and disputed the assertion, calling it a miscalculation amid an ongoing war.
Trump's Bold Claim
On Wednesday, Trump stated, "The U.S.A. has total control over the Strait of Hormuz" and posted on Truth Social that "Our Naval Blockade is being called, by everyone, 'A WALL OF STEEL'". Trump wrote, "I THINK WE WILL KEEP IT! Our Naval Blockade is being called, by everyone, 'A WALL OF STEEL,' and there is nothing Iran can do about it."
Iran's Sharp Response
Iran's Foreign Minister Abbas Araghchi warned Washington to "be careful" on Thursday, after President Donald Trump insisted the US has full control of the Strait of Hormuz. Araghchi posted on X: "Worse than fake news is fake news is fake intelligence. The U.S. has long miscalculated due to intelligence failures. Case in point: The war on Iran. Now, an even bigger miscalculation on the Strait of Hormuz".
The Strategic Situation
The Strait of Hormuz, which passes between Iran and Oman, serves as the main route for shipping crude from oil-rich countries such as Saudi Arabia, Iraq and Kuwait to the rest of the world. Efforts to reopen the Strait of Hormuz are becoming more urgent as the International Energy Agency warns of global oil stockpiles diminishing at a rapid clip, and oil prices are falling despite few signs of progress toward ending the Iran war. Just eight vessels crossed the strait on Tuesday, down from 130 to 140 prior to the war as peace talks stall.
Economic Fallout
Brent crude, the global oil benchmark, was around 2% lower at $87.20 a barrel, while WTI, the US benchmark, was down by a similar margin to $81.45 a barrel. Experts say China's reliance on stockpiles and increased US oil production are among the factors for the decline.