Shipping Data Undercut Trump’s Hormuz Control Claim as Oil Holds Above $88
Updated
Updated · XTB · Aug 12
Shipping Data Undercut Trump’s Hormuz Control Claim as Oil Holds Above $88
3 articles · Updated · XTB · Aug 12
Summary
Commercial-vessel tracking has not confirmed Trump’s claim that the US has “full control” of the Strait of Hormuz and that the passage is open.
Fresh incidents in the Bab al-Mandab and Gulf of Oman show maritime risks remain elevated, even as talks on reopening Hormuz appear to be making some progress.
Oil stayed elevated above $88 despite Trump’s assurances, with hopes for a US-Iran deal colliding with continued attacks on shipping routes.
The EIA raised its 2026 and 2027 oil-price forecasts, citing production disruptions and transport challenges, while Gulf states increasingly pursue export routes that bypass Hormuz.