Geopolitics · Thursday, 13 August 2026
Trump says the US controls Hormuz completely, Iran says the strait is closed
President Donald Trump said late on Tuesday of the Strait of Hormuz that "we own it", writing that the American naval blockade is being called a wall of steel and that there is nothing Iran can do about it. Tehran rejected the description and continues to strike ships in the passage. Brent rose to around $89, a sixth straight day of gains, and oil tanker charter rates have reached $500,000 a day. Talks mediated by Pakistan and Qatar are stalled.