Oil prices mixed as Trump says no Iran deal needed, claims control of Strait of Hormuz

Oil prices were mixed on Thursday after President Donald Trump said the U.S. does not need a deal with Iran, raising doubts about an end to the conflict. Trump claimed the U.S. controls the Strait of Hormuz, a key oil shipping route. The comments follow a sharp pullback in prices after Trump previously downplayed further strikes on Iran, with WTI down about 16% in November. Analysts said investors may have been too quick to price in a cessation of hostilities, warning renewed doubts could push the security premium higher. Experts noted Trump's stance could spur further Iranian attacks on infrastructure, while both sides' negotiating positions remain unchanged. Iran seeks an end to the blockade and sanctions, while the U.S. demands Iran eliminate its nuclear stockpile and allow free transit through the strait.