Key facts
- The FTSE 100 is expected to rise amid ongoing tensions between the US and Iran over the Strait of Hormuz.
- Iran has suggested it could prolong the conflict with the US until Donald Trump leaves office.
- President Donald Trump asserted that the US has "total control" over the Strait of Hormuz.
- Tehran has stated the Strait of Hormuz remains blocked until its conditions are met.
- Oil prices are holding around $87 per barrel.
- A global energy watchdog has warned that oil stockpiles are "rapidly depleting".
The FTSE 100 is expected to see an increase as market participants digest conflicting statements from the United States and Iran concerning the Strait of Hormuz. President Donald Trump declared that the U.S. has "total control" over the crucial waterway, while Tehran has stated it has the strait "blocked" and will not reopen until Iran’s conditions are accepted. Mohammad Reza Naghdi, a senior adviser to the commander of Iran’s Revolutionary Guards, suggested that Iran could deliberately prolong the war with the US until Donald Trump leaves office, aiming to send a message about the cost of hostile advances. Oil prices are holding around $87 per barrel, with investors monitoring the situation. A global energy watchdog has warned that oil stockpiles are "rapidly depleting".