Trump says large volumes of oil flowing through Strait of Hormuz

US President Donald Trump said that "large volumes of oil are currently flowing through the Strait of Hormuz."

Trump added that "we will talk to Iran when it abandons its nuclear ambitions, but there are no negotiations with Iran at the moment, though that could happen at some point," according to Al Arabiya.

The US president continued, saying "we have full control over the Strait of Hormuz, and negotiations could resume at some point," noting that oil prices will drop significantly once the Iran crisis is resolved.