FTSE 100 Live: Stocks to slide as Iran and US clash over control of Strait of HormuzOil prices have spiked on fresh tensions over the Strait of HormuzWelcome back to City AM liveblog. Oil prices broke above $89 per barrel on Wednesday morning, notching the sixth consecutive sessions amid mixed signals around a potential deal between the US and Iran. It followed Trump dismissing Iran’s six conditions for reopening the strait, which included “payment in full” for damage inflicted on Iran throughout the war. “It is an interesting idea because now I am likewise demanding compensation from Iran,” Trump said, adding: “I have instructed my representatives to put this firmly into any, and all, future negotiations.” “The signals in the last two three days are that we are close to some sort of an arrangement,” they added.