Iran refuted U.S. President Donald Trump’s claim on Wednesday that Washington has "full control" over the Strait of Hormuz. Tehran stated that repeated assertions by external parties that the strait has been reopened do not alter the reality that the waterway remains blocked, and it will only be reopened once Iran’s demands are accepted.

Trump previously posted on Truth Social: "The United States has complete control over the Strait of Hormuz. And I believe we will maintain that control!"

Despite the conflicting signals exchanged between the U.S. and Iran, data from maritime intelligence firm Kpler shows vessel traffic through the Strait of Hormuz has slumped to a near three-month low. An analysis by FX168 based on Kpler’s statistics put the 5-day average vessel throughput at just 13 ships on Tuesday, the lowest level since May 12. The figure covers all types of vessels including cargo ships and oil tankers.

Compared with the pre-attack average daily volume of roughly 130 vessels recorded on February 28 before the U.S. and Israel launched strikes against Iran, current shipping activity has dropped by approximately 90%. It indicates that while both sides claim the upper hand in diplomatic and public opinion battles, actual maritime movement remains severely restricted, and market fears over the security of the Middle East’s critical crude oil shipping artery have not abated.

## U.S. and Iran Hold Hardline Negotiating Stances

Reports note that both Washington and Tehran are hardening their negotiating positions and demanding concessions such as reparations from the opposite side. Iran’s Supreme National Security Council rolled out a set of stringent preconditions late last week for reopening the strait, including an end to the U.S. Navy’s blockade, lifting of sanctions, withdrawal of U.S. military forces, and payment of war reparations.

The Strait of Hormuz ranks among the world’s most vital oil transit chokepoints in the global energy landscape. With vessel throughput staying peRSIstently depressed, prolonged tensions would likely keep risk premiums elevated for crude oil and related shipping markets. Investors will continue to closely monitor subsequent statements from the U.S. and Iran, as well as any tangible recovery in maritime passage through the strait.