Oil Prices Climb As Strait Of Hormuz Remains Closed, Iran Says It 'Cannot Trust The Americans At All'

Oil prices are rising sharply due to the continued closure of the Strait of Hormuz, with Iran stating that mistrust of the United States is a major obstacle to diplomatic efforts. U.S. President Trump emphasized the effectiveness of the blockade while China expressed a desire to assist in negotiations with Iran. China accounts for 10% of its imports from Iran, indicating a significant interest in reopening the waterway.