Donald Trump has hit back at Tehran's conditions for reopening the Strait of Hormuz, insisting Iran must first compensate the United States for decades of regime-backed attacks.

The Strait of Hormuz’s closure has skyrocketed global energy prices and high prices are threatening to unseat Republicans this November.

Iran’s sweeping demands test Trump as the Strait of Hormuz remains choked, threatening global oil flows and hinging on a wider US-Tehran bargain beyond Oman talks.