Trump claims U.S. control of Strait of Hormuz as ship traffic plummets
President Donald Trump said on 12 August that the United States had full control of the Strait of Hormuz, even as vessel traffic fell to a weekly low of eight ships. Earlier in August, Trump announced a pause to planned U. S. strikes on Iran and OPEC+ approved a modest output increase, prompting oil prices to drop.
He later said negotiations with Iran would resume and Treasury Secretary Scott Bessent indicated a deal to restore commercial navigation could be reached by early next week. Iran denied any negotiations and set conditions that included sanctions relief and compensation. Trump warned that oil prices could rise if the United States escalated the conflict and later demanded that Iran pay reparations for past attacks, a stance Iran said must be met before the waterway could be reopened.