Oil Flat As Traders Try To Reconcile Reports Of Hormuz Deal With Iran Vowing To Develop Nuclear Weaponby Ship & Bunker News TeamMeanwhile, Donald Trump girds for a resumption of strikes against the Islamic republic: File Image/Pixabay. Given Washington’s motivation to keep bombing Iran until its nuclear capabilities are obliterated, analysts braced for a continued impasse between the two countries – and more disruption of oil flows through the Strait of Hormuz. This agreement seems as tenuous as past agreements Phil Flynn, senior market analyst, Price Futures Group Inc. Phil Flynn, senior market analyst with Price Futures Group Inc., remarked, "This agreement seems as tenuous as past agreements, and as we know, none of those have held up for very long." Also on Wednesday, despite the concern about the war causing global supply tightness, the U.S. Energy Information Administration disclosed that crude stockpiles rose by 2.5 million barrels to 407 million barrels last week, compared to expectations of a 1.5 million barrel draw.