Trump demands compensation from Iran as Strait of Hormuz deal hopes fade and oil jumps

US President Donald Trump has demanded compensation from Iran for past attacks and atrocities, which Iran allegedly backed or perpetrated. According to Business Recorder, Trump made the statement on Truth Social, saying he would seek conflict compensation from Iran as part of any peace negotiations.

The Strait of Hormuz, a vital waterway for global oil supplies, remains blocked, with Iran demanding that the US first end its blockade of Iranian ports and lift sanctions on its oil industry. As reported by Quartz, Tehran said the US must also pay reparations before the strait can reopen.

Oil prices have risen, with Brent crude extending gains, and prices surging back to $85 per barrel, as reported by The National Business. The blockage has sent fuel prices soaring and rattled the world economy.

Brief written by urgent.news from Arabian Business, Business Recorder, Quartz, Handelsblatt, The National Business — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.