Summary
- Trump stepped up pressure on Iran, saying Tehran had broken a previous agreement.
- Trump said the US controls and will defend the Strait of Hormuz, and expects payment in return.
- Markets are watching whether tighter pressure on Iran and risks to shipping through the Strait of Hormuz could heighten international oil prices, global financial market volatility, and Middle East risk.
Forecast Trend Report by Period
President Donald Trump said Iran had broken a previous agreement, escalating pressure tied to the Strait of Hormuz.
Walter Bloomberg, an overseas financial news account, reported on July 13 that Trump said of Iran, “We had a deal, but they broke it.”
“Iran got nothing from me,” Trump said. “Iran has nothing right now.”
Trump also struck a hard line on the Strait of Hormuz. Referring to Iran and oil, he said, “We control the strait.”
The US will defend the waterway and expects to be paid for doing so, he said. “We will be the guardians of the strait.”
Trump also said of Iran, “They are people from a bad group.”
The remarks came as military tensions between the US and Iran intensified and the issue of transit through the Strait of Hormuz emerged as a key driver of volatility in international oil prices and global financial markets.
Markets are watching the risk that Middle East tensions could persist if Trump uses Iran’s alleged breach of the agreement as grounds to strengthen pressure on Tehran and expand the US defense role in the strait.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.