Trump’s New Demands Keep Oil Near $88
Oil prices held onto a four-session advance on Tuesday, with Brent trading near $88 a barrel and WTI staying above $82, as uncertainty over the reopening of the Strait of Hormuz continued to support the market.
Fresh pressure emerged after U.S. President Donald Trump introduced new demands on Iran as part of future negotiations. Trump called for compensation over casualties he blamed on Iran in past conflicts and said the issue would be included in any upcoming talks. The increasingly hardline stance from both Washington and Tehran has reduced hopes for a quick agreement.
Crude prices have risen nearly 45% so far in 2026 as the Middle East conflict disrupted supply flows and damaged energy infrastructure. Refined products such as diesel have climbed even more sharply, also supported by supply disruptions linked to the Russia-Ukraine war.
Iran and Oman are still discussing arrangements to restore shipping through Hormuz. However, Tehran has reiterated that a full reopening would require the U.S. to end its blockade and provide compensation for war-related damages. Before the conflict, roughly one-fifth of global oil and liquefied natural gas trade passed through the strategic waterway.
Shipping activity through Hormuz also remains far below normal levels. Around five vessels per day are reportedly transiting the strait, compared with roughly 14 per day after the U.S.-Iran memorandum of understanding in June. U.S. commercial crude inventories are also near their lowest level since 2018, while the Strategic Petroleum Reserve remains historically low.(mrv)
Source : Newsmaker.id
