Trump's Hormuz Claim Sparks Controversy Amid Rising Oil Prices
US President Donald Trump has sparked controversy by posting an image on social media claiming the Strait of Hormuz as a new US territory, potentially the 51st state. However, maritime data contradicts this claim, showing that the strait remains an international waterway between Iran and Oman.
Kpler data cited by Reuters revealed that only six commodity vessels crossed through the strait on Monday, compared to the pre-war average of almost 140 ships per day. The Strait's operational status is far from normal, with no Very Large Crude Carrier (VLCC) crude supertankers or LNG carriers recorded crossing.
Oil prices have surged nearly 15% in August due to global pressure and Hormuz disruptions. Countries heavily reliant on oil imports through the strait are at high risk of supply shortages, including Bangladesh, Pakistan, India, EU/Germany. Meanwhile, Bitcoin's price has remained relatively stable near $64,700, unaffected by Trump's claim.
The slight increase in BTC price is attributed to positive ETF flow returning to the US spot and confirmation that the Federal Reserve won't likely increase interest rates. However, continuous Hormuz disruption keeps oil elevated, feeding inflation and higher bond yields, reducing the Fed's room for easing.