U.S. President Donald Trump announced that global oil prices will drop sharply once the conflict with Iran concludes, pointing to recent increases in U.S.-escorted crude flows through the Strait of Hormuz. Despite rejecting Tehran's proposal to fully reopen the maritime transit corridor on Iranian terms, Washington expressed confidence that ongoing military pressure will compel Tehran to concede, securing long-term regional stability and lowering global energy costs.
The United States and Venezuela have announced a landmark agreement that would give Washington control over more than 65 billion barrels of Venezuela’s proven oil reserves. The deal is expected to attract more than $100 billion in private investment and generate over $209 billion in tax revenues for Venezuela, although key details about its implementation remain unclear.
• Iran says Hormuz will remain closed.
• Tehran demands an end to US oil sanctions.
• The June interim deal has collapsed.
• Iran signals a more offensive posture.
