Iran raises the price for reopening the Strait of Hormuz, demanding U.S. reparations under June’s memorandum of understanding. Yemen’s Houthi rebels hit a Saudi oil refinery just days after Riyadh signs a mutual regional defence pact with Turkey and Pakistan. Berkshire Hathaway’s Greg Abel pumps almost $20bn in investments in the second quarter, including almost $10bn in Alphabet.<br>See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran hikes price for reopening Strait of Hormuz

Squawk Box Europe Express

The CNBC app, global market news in one place. Customizable sections and personalized alerts, stocks tracking, interactive charts and market insights all in your hands. Stay connected, stay informed. Download the CNBC app today. Welcome to Squawk Box Europe. I'm Karen Tso with Ben Boulos. These are your headlines. Iran raises the price for reopening the Strait of Hormuz,

demanding major concessions including U.S. compensation and complicating President Trump's efforts to find an exit from the conflict. Tensions in the region flare up once again with Yemen's Houthi rebels striking a Saudi oil refinery days after Riyadh signs a mutual defense pact with Turkey and Pakistan. Greg Abel splashes the cash, putting almost $20 billion to work

at Berkshire Hathaway in the second quarter, including a $10 billion investment in Alphabet. On the latest today, Iran says a deal with Oman around transit through the Strait of Hormuz is close,

but tied to the reopening of the waterway to conditions including U.S. compensation and an end to sanctions. Traffic through Hormuz remains at low levels, with the UAE over the weekend condemning what it called a hostile Iranian attack, targeting an Adnoc-affiliated tanker transiting through the Strait. Iran's Foreign Minister Abbas Arangchi said, an agreement with Oman would not necessarily see the Strait of Hormuz reopened.

Our negotiations with Oman concern the establishment of new maritime routes through the Strait of Hormuz. These talks have progressed well and I can say that we are in the final stages. The old routes will be replaced with new ones. Experts are currently working on the maps. This however does not mean that the Strait of Hormuz will be reopened.

Iran hikes price for reopening Strait of Hormuz

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Iran hikes price for reopening Strait of Hormuz

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.