Trump Makes New Demands on Iran, Oil Edges Higher | Horizons Middle East & Africa 8/11/2026
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Global markets remain under pressure as the standoff over the Strait of Hormuz deepens. President Trump has made sweeping new demands on Iran, including compensation for people he says Iran "killed and gravely wounded," while hardened positions on both sides are dimming hopes for a deal to restore shipping through the vital waterway. Oil has returned as a major driver of inflation concerns, with investors watching the impact on central banks. Bonds fell on renewed inflation worries, while Federal Reserve official Beth Hammack said "some number" of rate hikes may be needed. Australia's central bank leaves rate unchanged at 4.35% while maintaining a hawkish stance. Currency markets remain focused on the yen after its earlier intervention gains faded, raising questions over how effective further intervention could be. Japan's growth strategy minister also discussed spending plans, fiscal policy and the potential long-term impact on the yen. In technology, Nvidia is working with six firms
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