Trump asserts US has “total control” over Hormuz Strait amid Iran tensions

President Donald Trump asserted that the United States has “total control” over the Strait of Hormuz amid escalating tensions with Iran. This statement comes as part of a broader standoff over maritime control in the region, a critical energy route where both nations have increased military presence. Trump’s claim suggests a significant escalation, indicating a more assertive U.S. posture in maintaining open navigation through this vital chokepoint. The situation affects ongoing discussions and market expectations regarding a possible agreement between the U.S. and Iran to restore normal shipping conditions in the strait. Key Takeaways Trump’s statement appears to indicate a hardening of U.S. positions, consistent with decreased likelihood of a near-term agreement with Iran. The pricing for a U.S.-Iran agreement by August 15 has significantly dropped to 8.5% from 68% a week ago, suggesting diminished expectations for a rapid resolution. Market pricing suggests participants view the conflict as escalating, impacting the August 31 agreement odds, now standing at 23.5% YES. What to Watch Observers should monitor any further diplomatic or military developments from both the U.S. and Ir...