Iran Keeps Strait Closed, Trump Tells Americans to Pay More for Gas

The conflict between Iran and the US continues to escalate, with no signs of a resolution in sight. On August 15, Iran's Deputy Foreign Minister Kazem Gharibabadi tweeted that the Strait of Hormuz would remain closed until the US accepts defeat and stops 'indulging in fantasies'. The strait is a crucial waterway for global oil trade, handling one-fifth of the world's oil before the war.

Iran has not decided to resume talks with the US, according to Foreign Minister Abbas Araghchi. He stated that Washington must meet conditions on the strait before shipping can resume. The current blockade has resulted in a significant decline in oil tanker traffic, with only two vessels passing through the strait on August 14.

In response to the ongoing conflict, President Donald Trump urged Americans to accept slightly higher petrol prices, saying it's worth paying 'a tiny little bit more' for gasoline to ensure that Iran does not acquire a nuclear weapon. The average US price of a gallon of petrol has risen by 29% in a year, reaching $4.08 on August 14.