US sneaked oil via SoH: Trump

Washington: Iran’s ability to control the Strait of Hormuz has emerged as a key bargaining chip, as the waterway’s closure has severely disrupted the global economy.

US President Donald Trump said the US military has been carrying out a mission since last month to move oil shipments past Iranian forces in the strait, aided by the destruction of Iranian radar equipment.

Trump claimed over 100 million barrels of oil had escaped Iran’s chokehold. There was no immediate confirmation of the figure, which is equivalent to roughly five days of oil shipments before the war began. 

DISAGREEMENTS HIt QUICK PEACE DEAL

A Qatari diplomatic delegation, negotiating in coordination with the US, left Tehran on Thursday after holding talks, according to an official. Meanwhile, Pakistan expressed deep concern over rising tensions and urged both Iran and the US to adhere to the ceasefire.

Pakistan said it remained engaged in diplomatic efforts to de-escalate tensions and facilitate dialogue, asserting recent hostilities have narrowed the space for diplomacy but not impossible.

LOVE INFLATION: POTUS

Inflation in the US has reach­ed its highest level in three years at 4.2% in May, up from 3.8% in April. Despite pressure on household purchasing power and rising business costs, Trump dismissed concerns. “I love it. The numbers were great. You know what I really love? I love the inflation,” Trump told reporters.

Claiming US forces had seized “millions of barrels” of Iranian oil, he said prices would “come down like a rock” once the conflict ends.

Later, he told the New York Post remarks had been taken out of context and he meant inflation was “much lower than anticipated”. —Agencies