According to CoinMeta, Trump claimed that the United States has "full control" over the Strait of Hormuz, but this claim does not match the traffic of oil tankers, as the number of tankers passing through has dropped to a one-week low. Nevertheless, the price of Brent crude oil has broken through $89 after six consecutive days of increase, and the market is showing optimism regarding cooling inflation and record-high stock markets. The July Consumer Price Index ( CPI ) met expectations, with an annual growth rate of 3.4% and core inflation at 2.5%. This data reduces the urgency for a rate hike in September, but there are still disagreements within the Federal Reserve. The market is assessing the upcoming Producer Price Index ( PPI ), which will have a significant impact on oil prices and the stock market.