U.S. oil rose above $83 a barrel after Iran said the Strait of Hormuz will not reopen until its conditions are met. Prices had climbed as much as 3% earlier after President Donald Trump demanded Iran pay reparations to the U.S. Gulf energy producers have acknowledged Iran's assertion of control over the strait, a critical route for global oil shipments. Attempts to resume passage are stymied by ongoing tensions, with regional governments prioritizing peace over export delays. Iran is seeking financial easing and a ban on international warships, extending the disruption of global energy channels. Meanwhile, U.S. stocks fell following the news, and analysts remain divided on the short-term outlook for inflation and interest rates.