August 1-10 exports reach $21.3 billion, a record high... semiconductors up 155.4%

U.S. President Donald Trump on Wednesday said he could also demand reparations from Iran, further complicating an already tense situation in the Persian Gulf. The comments came as Iran warned that it could shut down the Strait of Hormuz, a vital waterway for international oil shipments, if it was not able to export its own oil due to U.S. sanctions. Trump made the remarks at a news conference with Finnish President Sauli Niinistö at the White House. "Iran has done a lot of bad things, and they could make a big payment, you know, for the things they've done," Trump said. The Strait of Hormuz has been a critical flashpoint in the escalating tensions between the United States and Iran. About 20% of the world's oil supply passes through the strait, which connects the Persian Gulf to the Gulf of Oman. Iran has repeatedly threatened to close the strait in response to the U.S. sanctions that were reimposed after Trump withdrew the United States from a 2015 nuclear deal with Iran. The threat was reiterated on Tuesday by Iranian President Hassan Rouhani, who said that Iran could close the strait if it was not allowed to sell its oil. "If we are not allowed to sell our oil, we will not be able to sell oil to anyone, and we will close the Strait of Hormuz," Rouhani said in a speech in Tehran. The comments by Trump and Rouhani came as oil prices jumped to a six-month high on Wednesday, fueled by the rising tensions in the region. Global benchmark Brent crude rose 4.3% to $67.54 a barrel, while U.S. West Texas Intermediate crude gained 4.2% to $56.23 a barrel. The U.S. Treasury Department on Tuesday imposed sanctions on two Iranian shipping companies and a number of vessels, in a move aimed at further tightening the screws on Iran's oil exports. The latest development raised concerns about a potential conflict in the region, with some analysts warning that a war between the United States and Iran could have serious consequences for the global economy. "This is a powder keg situation, and it could easily escalate into a bigger conflict," said Helima Croft, head of commodity strategy at RBC Capital Markets. "There are a lot of moving parts here, and it's hard to predict exactly how this will play out."

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Govt moves to make school safety a priority

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