Trump: Tensions in the Strait of Hormuz rise, oil prices increase slightly
2026-08-12 12:04:45
According to CoinMeta, investment and live reporting, oil prices rose slightly on Wednesday due to ongoing geopolitical uncertainties in the Middle East. Mohammad Javad Zarif, Secretary of Iran's Supreme National Security Council, reiterated that the Strait of Hormuz would remain closed until the United States changes its behavior and accepts Iran's conditions. At the same time, new reports emerged about attacks on vessels in the Bab el-Mandeb Strait and the Gulf of Oman, with the pattern of attacks extending beyond the Strait of Hormuz. After a visit to Ohio, Trump stated that progress with Iran was going well, but he remained the last person to trust Iran. Despite Trump's statements contrasting with the on-the-ground situation, shipping through the Strait of Hormuz is still severely restricted, and attacks on vessels in the surrounding waters continue to occur. Data from the American Petroleum Institute shows that as of August 7, crude oil inventories had increased by more than 9 million barrels, far exceeding the market's expectation of a decrease of 500,000 barrels.
Source:Internet
This content is for market information only and does not constitute investment advice.
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