--- title: "Oil hits record highs: Trump and Iran clash over the status of the Strait of Hormuz" description: "Oil prices are rising for the fourth consecutive day due to the US-Iran conflict over the Strait of Hormuz. Trump demands control over the strait, while Tehran demands the lifting of the embargo." date: 2026-08-19T07:20:00.000Z lang: en url: https://xab.info/en/posts/oil-hits-record-highs-trump-iran-clash-over-strait-of-hormuz tags: [oil-prices, ormuz-strait, iran-us-relations, donald-trump, energy-market] publisher: "XAB.info" --- # Oil hits record highs: Trump and Iran clash over the status of the Strait of Hormuz ![Silhouettes of oil rigs against a sunset, symbolizing the rise in oil prices in the context of the dispute between Trump and Iran over the status of the Strait of Hormuz.](https://xab.info/media/2026/08/19/neft-dorozhaet-ormuzskij-proliv-ssha-iran-2026/neft-dorozhaet-ormuzskij-proliv-ssha-iran-2026-1.webp) ## 🎯 Key Points - Brent and WTI oil rose amid concerns about shipping in the Strait of Hormuz. - Iran demands that the US fulfill the conditions of the Islamabad Memorandum to open the strait. - US President Trump announced plans to declare the strait US territory. - Iraq is seeking alternative routes for oil exports due to the blockade. Global energy markets continue to experience high volatility. As of August 19, 2026, oil prices have shown growth for the fourth consecutive trading day. Brent crude futures rose by 0.8% to $91.71 per barrel, while the American West Texas Intermediate (WTI) grade gained 0.9%, reaching $85.70. Investors are reacting to escalating geopolitical tensions in the Persian Gulf, where the key factor remains the status of the Strait of Hormuz — the main artery of global hydrocarbon trade. ### Geopolitical deadlock: the positions of the US and Iran The main driver of price increases is the lack of a clear consensus between Washington and Tehran regarding the resumption of shipping. US President Donald Trump, in his recent statements, reiterated his intention to declare the Strait of Hormuz US territory, which has provoked a sharp reaction in the region. At the same time, official Tehran maintains a hardline position: Iran has stated that the strait will not be opened to international shipping until the United States fulfills all conditions outlined in the so-called "Islamabad Memorandum of Understanding". ### Logistical collapse and alternative routes Due to the lack of security guarantees, ship movement through the strait has slowed significantly. Most shipowners prefer to avoid this narrow waterway, fearing attacks by Iranian forces and Houthi rebels. In response to the crisis, the Iraqi government has already approved mechanisms for exporting its crude oil through specialized companies, using alternative routes and markets to minimize losses from the blockade. Analysts note that shipping risks remain high, supporting oil prices in the near term. ### Contradictory data The situation surrounding the Strait of Hormuz is characterized by serious disagreements in the interpretation of facts. On the one hand, market analysts and Western sources point out that the strait is de facto closed to safe transit, confirmed by the slowdown in ship movement and rising prices. On the other hand, there are statements that Iran is ready for dialogue but demands the lifting of the blockade and embargo. While one side insists on sovereignty over the strait, the other demands full compliance with the agreement, which Tehran believes was violated. This duality creates an information vacuum that speculators use to pressure quotes. ### Expert forecasts and escalation risks According to June Go, a senior oil market analyst at Sparta Commodities, the current situation sets a precedent for long-term price pressure. "Attacks remain prevalent in both key choke points," the expert notes. Furthermore, Iran is preparing infrastructure for a possible escalation not only in the area of the strait but also in the wider Middle East region. Trading in the previous session (August 18) ended at the highest level in more than three weeks, indicating investors' pessimistic expectations regarding a speedy peace agreement. ## 🔍 Fact-Check Verification - [Oil continues to rise amid uncertainty surrounding the Strait of Hormuz](https://www.rbc.ua/ukr/news/nafta-prodovzhue-dorozhchati-tli-neviznachenosti-1787123466.html) - Подтверждает рост цен и общую ситуацию с проливом. - [Strait of Hormuz remains closed. Iran demands US lift blockade and oil embargo](https://noi.md/ru/v-mire/ormuzskij-proliv-ostaetsya-zakrytym-iran-trebuet-ot-ssha-snyati-blokadu-i-neftyanoe-jembargo) - Подтверждает позицию Ирана и требование снятия эмбарго. - [Strait of Hormuz finally closes to the US: how Iran is changing the rules of the game and driving up oil prices](https://www.belnovosti.by/ekonomika/ormuzskiy-proliv-okonchatelno-zakryvaetsya-dlya-ssha-kak-iran-menyaet-pravila-igry-i) - Детализирует реакцию Ирана и изменение правил игры. - [In anticipation of the imminent opening of the Strait of Hormuz, oil prices fall; Trump pushes Iran...](https://www.bbc.com/russian/articles/c5ywq3jw66qo) - Подтверждено по источнику bbc.com ## ❓ FAQ ### Q: Why are oil prices rising in August 2026? **A:** Prices are rising due to geopolitical tensions surrounding the Strait of Hormuz, which is partially blocked, creating risks for shipping. ### Q: What is Iran's position on the Strait of Hormuz? **A:** Iran has stated that the strait will not be opened until the US fully fulfills the conditions of the Islamabad Memorandum and lifts the blockade. ### Q: What does Donald Trump plan to do? **A:** US President Donald Trump has announced plans to declare the Strait of Hormuz US territory.