As Americans face high gas prices, President Donald Trump says the U.S. has “total control” of the Strait of Hormuz, a key waterway for global oil shipments.
"I THINK WE WILL KEEP IT!" Trump posted on Truth Social. "Our Naval Blockade is being called, by everyone, “A WALL OF STEEL,” and there is nothing Iran can do about it."
Trump's comments come more than five months into the war and as the U.S. has pulled back on strikes, instead maintaining economic pressure on Iran.
Some Iranian officials, however, dispute Trump's claim of total control of the strait and maintain that it will not fully reopen until the blockade is lifted, Iranian assets are unfrozen and a regional ceasefire is reached.
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Pakistan, which has served as a mediator in efforts to end the war, is expressing optimism that an agreement can be reached. A spokesperson for Pakistan's Foreign Ministry said the country continues to engage with the parties with “a fair degree of optimism.”
Meanwhile, Energy Secretary Chris Wright said oil shipments through the strait have climbed to nearly 9 million barrels per day. When combined with oil moving through other facilities and pipelines, Wright said total shipments leaving the Arabian Gulf region have risen above pre-conflict averages.
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The U.S. Energy Information Administration, however, is forecasting “continued severe constraints” on Strait of Hormuz transits through August. The agency expects crude oil production in the region to return to pre-conflict averages early next year.
The national average for a gallon of regular unleaded gasoline is $4.03, about 90 cents higher than at this time last year, according to AAA.
