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Trump says US could take control of Iran's oil like Venezuela deal amid stalled Strait of Hormuz talks

Market News
13 Sep 2026
CNBC
View Source
Bearish
Trump says US could take control of Iran's oil like Venezuela deal amid stalled Strait of Hormuz talks

President Donald Trump suggested the US might take control of Iran's oil reserves, similar to a recent deal with Venezuela that gave the US access to a significant portion of Venezuela's oil. This statement comes as a diplomatic meeting in Oman between Gulf countries and Iran to discuss the Strait of Hormuz was postponed due to lack of consensus. The Strait of Hormuz is a critical route for global oil and gas, and its control has been contested since the Iran conflict began, keeping energy prices high. Oil prices surged after Saudi Arabia closed a key pipeline following drone attacks, highlighting ongoing regional tensions and their impact on global energy markets.

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Oil prices jump over 2.7% as Saudi pipeline shutdown tightens supply ahead of Fed rate decision

Oil prices jump over 2.7% as Saudi pipeline shutdown tightens supply ahead of Fed rate decision

Crude oil prices surged more than 2.7% after Saudi Arabia shut its East-West pipeline due to drone attacks, threatening up to 4% of global oil supply. This supply disruption pushed Brent crude above $107, while geopolitical tensions in key shipping c...

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