The President’s comments come amid signs the jump in fuel prices triggered by the effective closure of the Strait of Hormuz is hurting consumers and businesses.

Brent Crude fell by over five per cent on Monday on news of progress between Iran and the US in peace negotiations.

Even as U.S.–Iran peace talks inch forward, Mojtaba is signalling that Tehran may keep the Strait of Hormuz closed long after any deal is signed, shocking markets that expected…