Posted on 08/10/2026 1:21:05 PM PDT by Miami Rebel
Oil prices jumped about 5% Monday as doubt grew that the U.S. and Iran will reach a deal to increase ship traffic through the Strait of Hormuz.
U.S. West Texas Intermediate futures climbed about 5% to close at $82.13 per barrel. Brent crude , the international benchmark, also settled around 5% higher at $87.72 a barrel.
President Donald Trump told Axios on Sunday that the U.S. is “only semi-negotiating” with Iran, after he insisted last week that Washington and Tehran were in fact holding talks. Trump indicated that he would rely on the U.S. naval blockade to pressure Tehran rather than another wave of airstrikes.
“We are just watching Iran with its huge inflation and the fact they have no money,” the president told Axios. Trump canceled a planned attack against the Islamic Republic on Aug. 1 to allow for negotiations.
Oil stocks in the U.S. Strategic Petroleum Reserve have fallen below 300 million barrels, the lowest level since January 1983, as the conflict drags on.
Oil prices sold off more than 7% last week after Treasury Secretary Scott Bessent told CNBC that a deal to open Hormuz with freedom of movement for ships could come soon. But an agreement still has not been announced as Tehran’s and Washington’s positions have hardened.
Iran’s Foreign Ministry spokesman, Esmail Baghaei, said Monday that the U.S. must lift its blockade before Tehran would agree to fully open Hormuz.
“As long as the U.S. naval blockade continues, the necessary conditions for the reopening of the Strait of Hormuz do not exist,” Baghaei said, according to the state news agency Tasnim. Iran and Oman are holding bilateral negotiations over shipping routes in the strait, he said.
The U.S. and Iran signed a memorandum of understanding on June 17 to open Hormuz to commercial ships, but the deal quickly collapsed as fighting erupted over which routes vessels could use.
Iran launched multiple attacks on tankers transiting Hormuz along Oman’s coast under U.S. military protection. Tehran demanded that ships sail through its territorial waters when transiting the strait.
The U.S. staged multiple waves of airstrikes and reimposed its naval blockade in retaliation for the tanker attacks.
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Iran thinks this will be a victory like Viet Nam...It won’t
We keep this up until they cry uncle
Wasn’t that EXACTLY like Viet Nam?
Cue Gomer Pyle.
<< Iran’s Foreign Ministry spokesman, Esmail Baghaei, said Monday that the U.S. must lift its blockade before Tehran would agree to fully open Hormuz. >>
And if we lift the blockade, they’ll demand that we unfreeze their assets. And if we do that, they’ll demand war reparations.
Does this mean we are only semi-winning the war? Or semi-losing?
What difference does a negotiated deal make anyway. Iran has not honored a single agreement it’s signed since 1979, so why waste the time? The fact that they can’t pay their soldiers, inflation is running about 70%, fuel shortages are common (lots of oil, no refineries), and terms of trade are killing them (1,918,000 reals to the dollar). Civil unrest is mounting to the point where Iran is now doing public executions.
There is no negotiating with people who think it’s OK to stone women to death, or who think it’s perfectly fine for families to kill their children because they have left Islam. You just can’t. It’s like trying to teach a Boa Constrictor to hug you without killing you.
This regime needs to be ended, entirely. This is what they deserve considering how many people they’ve hurt and killed.
Still less than it was under Biden.
Oil is up 5% today. TACO Tuesday?
Joe Biden would have sat back at let Iran build nuclear weapons.
Trump is deal obsessed. War is real. When you start one, the aim is to win. Either find a way to neutralize the Chinese engineered drones Iran is using to control the Strait of Hormuz and the world’s energy supply or you lose. Only real solution is to depose the mullah regime.
This isn’t just about the mullahs.
Trump is deal obsessed. War is real. When you start one, the aim is to win. Either find a way to neutralize the Chinese engineered drones Iran is using to control the Strait of Hormuz and the world’s energy supply or you lose. Only real solution is to depose the mullah regime.
Actually, Joe Biden did sit back and allow Iran to develop nuclear weapons
They have already made that part of their demands.
What is unbelievable is that Trump lifted sanctions on Iranian oil during the war. This is the first time that sanctions were lifted since 1979.
Probably not, but right now it's about whomever has the loyalty of the IRGC - AND the input of foreign actors (i.e. China). That's without even beginning to factor in the corrupt contributions of those profiting off of higher oil prices.
Iran thinks this will be a victory like Viet Nam...It won’t
We keep this up until they cry uncle
************************************
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
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