Summary
- An adviser to Iran’s supreme leader said Tehran has no intention of backing down over the Strait of Hormuz.
- The report said the US is increasing pressure by raising the possibility of defending and operating the Strait of Hormuz.
- Markets are watching how the hard-line positions of the US and Iran could affect global oil prices and sentiment toward risk assets.
Iran has no intention of backing down over the Strait of Hormuz, according to a report.
Walter Bloomberg, an overseas financial news feed, reported on July 13 that an adviser to Iran’s supreme leader said Tehran would not retreat on the Strait of Hormuz issue.
The remarks came as the US stepped up pressure by raising the possibility of defending and operating the Strait of Hormuz.
President Donald Trump had earlier said, “We will be the guardian of the Strait of Hormuz,” adding that the US would be compensated if it leads the waterway in the future.
Markets are watching how the hard-line stances of the US and Iran over the Strait of Hormuz could affect global oil prices and sentiment toward risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.