Trump tells aides to prepare for lengthy Hormuz blockade, WSJ says
Trump chose a blockade strategy that officials said could keep pressure on Iran's oil exports while avoiding a new bombing campaign.
- Oil prices rose on Wednesday following reports that President Donald Trump instructed aides to prepare for an extended blockade of Iran, potentially prolonging supply disruptions from the Middle East.
- Despite a ceasefire in the US-Israeli war with Iran, the conflict remains deadlocked, with Iran shutting shipping flows through the Strait and Hormuz, a conduit for about 20 per cent of global oil.
- West Texas Intermediate futures rose 57 cents to $100.50 a barrel, while the American Petroleum Institute reported crude stocks fell by 1.79 million barrels and gasoline inventories dropped 8.47 million barrels.
- Analysts warn that supply disruptions will worsen if Trump continues to squeeze Iran's exports, as Brent crude futures rose 52 cents to $111.78 a barrel.
- The Wall Street Journal reported the U.S. is pressing for an end to Iran's nuclear weapons programme, while Iran is demanding reparations and an easing of economic sanctions.
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134 Articles
Is the Next Economic Crash Being Signaled to Billionaires & Putin as the Working Class Gets Blindsided?
ShareThe Wall Street Journal reports in an article titled “Trump Tells Aides to Prepare for Extended Blockade of Iran” that:“President Trump has instructed aides to prepare for an extended blockade of Iran, U.S. officials said... In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran’s economy and oil exports by preventing shipping to and from its ports. … “For now, Trump is comfortable wi…
Trump sees blockade extension as best option for forcing Iran back to the negotiating table
By Alayna Treene, Kevin Liptak, CNN (CNN) — President Donald Trump has told his top advisers in recent days he wants the US naval blockade of Iranian ports to continue, sources familiar with the talks said, and his team has begun laying the groundwork for such an extension, including a longer-term closure of the Strait of Hormuz. The president, for now, is digging into a strategy designed to inflict as much economic pain on Iran as possible in t…
Brent crude oil hits highest price in 10+ years
Oil prices shot higher on Wednesday on concerns of an extended blockade of the Strait of Hormuz, while Wall Street stocks mostly slid as investors awaited a US Fed rate decision and a slew of tech firm earnings. Both main oil contracts jumped nearly six percent after President Donald Trump warned Tehran on Wednesday that it should “get smart soon” and capitulate to Washington’s demands for tight controls on its nuclear programme, as a US naval b…
What We’re Watching: US readying for extended Hormuz blockade, & More
Trump preparing for extended Hormuz blockade, per reportUS President Donald Trump reportedly told his aides to prepare for a longer blockade of Iranian-linked ships passing through the Strait of Hormuz, in the hopes that the Islamic Republic kowtows to his demand to dismantle its nuclear program. He appears to prefer this option to restarting a bombing campaign or exiting the conflict altogether. The US blockade appears to be hurting Iran: Tehra…
Oil prices continued to rise following reports that the United States is preparing to extend its blockade of Iran, a major obstacle hindering progress in negotiations.
No More Bombs for Iran, Economic War Instead? - The Ron Paul Institute for Peace & Prosperity
Trump assembled his national security team in Washington on Monday afternoon to figure out how to respond to Iran’s latest missive delivered via Pakistan — i.e., end the blockade and then we’ll talk about other issues. The Wall Street Journal reports that Trump opted for economic warfare against Iran as it carried less risk, instead of resuming bombing or trying to exit the conflict. That’s the good news. However, President Trump also instructed…
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