Trump: Tensions in the Straits of Hormuz and small increases in oil prices

Investments live reported a small increase in oil prices on Wednesday due to geopolitical uncertainties in the Middle East. Mohsen Rezai, Secretary of the Supreme State Security Council of Iran, reiterated that the Strait of Hormuz would remain closed until the United States changed its behaviour and accepted Iran ' s conditions. At the same time, new reports of attacks on vessels in the Bab al-Amandab Strait and in the Gulf of Oman have emerged, and the pattern of attacks has expanded beyond the Strait of Hormuz. After a visit to Ohio, Trump stated that his affairs with Iran were well advanced, but he remained the last person to trust Iran. Despite Trump ' s statements in contrast to the situation on the ground, shipping in the Straits of Hormuz remains severely restricted, and ship attacks in the surrounding waters continue. American Petroleum Association data show that, as at 7 August, crude oil stocks had increased by more than 9 million barrels, well above the market expectations of 500,000 barrels。