North America

Iran disputes Trump's Hormuz claims as shipping traffic sinks to 3-month low

An Iran-linked Persian Gulf authority said the Strait of Hormuz remains blocked and will not reopen until Tehran's conditions are met, directly contradicting President Trump's claims that the US controls the strait. Shipping traffic through the corridor has fallen to its lowest level in three months.

A large oil tanker navigating a narrow shipping strait
A large oil tanker navigating a narrow shipping straitPhoto: Julien Goettelmann / Pexels
CNBC Top News1 h agoUSO BZ=F

An Iran-linked Persian Gulf authority said on Wednesday that the Strait of Hormuz "remains blocked and will not be reopened until Iran's conditions are accepted," directly rebutting President Trump's repeated claims in recent days that the United States has taken full control of the strait and that Tehran owes reparations.

Commercial shipping traffic through the corridor has fallen to its lowest level in three months, with oil tanker operators continuing to reroute around the Cape of Good Hope amid the standoff, driving up freight costs across the region.

Analysts said the dueling narratives from Washington and Tehran suggest no resolution is imminent, with both sides instead hardening their public positions. Energy markets are pricing in continued pressure on global oil supply as long as the strait remains effectively closed to normal traffic.

GeopoliticsEnergyTradeUSOBZ=FNorth AmericaCNBC Top News
This article is an AI-curated summary of the original story published by CNBC Top News. The illustration is a stock photo by Julien Goettelmann from Pexels and is not from the original story.

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