Donald Trump · Iran · Strait of Hormuz · White House · Fortune Technology
Trump stonewalls Iran as U.S. helps double oil volume exiting the Persian Gulf, with the military now guiding ships through
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President Donald Trump signaled he’s in no hurry to make a deal with Iran and rejected Tehran’s latest proposal, as the U.S. military facilitates the transit of more oil through the Strait of Hormuz.
Key facts
- I continue to stress that while a lot of oil is getting out of Hormuz the cost of getting those barrels out is high ($30-40+/bbl, excluding the cost of the US military),” Johnston pointed out
- On Wednesday, Tanker Trackers estimated that the total amount of crude oil exiting the U.S. blockade line is now 13 million barrels per day
- Similarly, oil expert Rory Johnston estimated that about 13.5 million barrels a day are now clearing the strait, based on the latest seven-day average
- That’s partly due to Saudi Arabia shifting its oil shipments back through the Persian Gulf, Tanker Trackers added, after previously diverting them via the East-West Pipeline for export from Red Sea
Summary
The Islamic Republic had reportedly offered a seven-day ceasefire, during which it would fully reopen the strait and resume nuclear talks. “They want to make a deal and I think that’s fine,” Trump told reporters outside the White House on Saturday, saying Iran is “losing so badly.” “The reporter would like to make a deal, too. In addition, he has privately told aides that he expects to resume bombing Iran after the midterm elections when high gas prices will be less of a political consideration, . Such bravado comes as U.S. officials believe time is now on their side and no longer on Iran’s side.