US-Iran Hormuz AgreementPresident Donald Trump asserted that the United States has “total control” over the Strait of Hormuz amid escalating tensions with Iran. The situation affects ongoing discussions and market expectations regarding a possible agreement between the U.S. and Iran to restore normal shipping conditions in the strait. AdvertisementKey TakeawaysTrump’s statement appears to indicate a hardening of U.S. positions, consistent with decreased likelihood of a near-term agreement with Iran. The pricing for a U.S.-Iran agreement by August 15 has significantly dropped to 8.5% from 68% a week ago, suggesting diminished expectations for a rapid resolution. Additionally, continued monitoring of shipping data and maritime traffic through the Strait of Hormuz may provide insight into the evolving situation.