Donald Trump demands compensation from Iran as oil prices climb toward $90

President Donald Trump announced on August 11, 2026, that the United States would seek financial compensation from Iran for damages spanning five decades of Iranian-backed military actions, including casualties from roadside bombings, regional conflicts, and violent crackdowns on protesters. The declaration landed at a particularly delicate moment, just as Omani-mediated negotiations over the reopening of the Strait of Hormuz were showing signs of collapse. Brent crude briefly surged toward $90 per barrel on the news before pulling back. A strait that moves the world The Strait of Hormuz handles roughly 20% of global oil and petroleum liquids trade, equivalent to approximately 20 million barrels per day under normal conditions. Traffic through the strait has fallen sharply since the US-Iran conflict escalated in early 2026, and Iranian oil exports from Kharg Island have been halted entirely. The US has also reinstated naval blockade measures, asserting control over maritime operations in the region. Iran’s conditions for reopening the strait include US war reparations, a full lifting of sanctions, and a formal end to military threats before any negotiations move forward. Trump’s co...