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Market Chatter: Trump Says US Will Maintain Naval Blockade on Iran Until Nuclear Deal

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-- President Donald Trump said in a phone interview he will keep Iran under a naval blockade until Tehran accepts a deal that addresses US concerns about its nuclear program, Axios reported Wednesday.

Trump said the blockade was "somewhat more effective than the bombing," and that he had yet to order any military action as of Tuesday night, the report said.

He also claimed Iran's oil storage and pipelines "are getting close to exploding" because the country can't export crude under the blockade, the report said.

US Central Command has planned a "short and powerful" wave of strikes on Iran to potentially break the negotiating deadlock, the report said, citing three sources. Following the strikes, which would likely target the country's infrastructure, the US would press Iran to return to talks and show more flexibility, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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