Foreign Trade
Trump's Iran Demands Threaten Strait of Hormuz Deal
US President Donald Trump hardened his stance toward Iran, demanding reparations for past attacks as negotiations to reopen the Strait of Hormuz continue. The demands, which Trump said will be included firmly in future negotiations, are almost certain to be rejected by Iran, which seeks reparations for US-Israeli war damages. The hardening positions make an immediate pact unlikely, with global benchmark Brent crude trading at $87.87 per barrel and supertanker hiring costs approaching $500,000 a day on the Middle East-to-China route.
