Overview of Overnight News on August 11

1. U.S. President Trump stated that the U.S. has completed mine clearance throughout the Strait of Hormuz, and the U.S. Navy now has "100%" control over this vital waterway. Trump also mentioned that the Strait of Hormuz is "now open" and that Iran occasionally lays mines, but the U.S. military will clear them. 2. The United States, Israel, and Syria have reached an understanding that the International Atomic Energy Agency will transfer nuclear materials from a secret location in Syria. 3. International oil prices rose significantly on the 10th, while the U.S. strategic petroleum reserve has fallen below 300 million barrels, hovering at its lowest level since the 1980s. 4. According to estimates from the U.S. Congressional Budget Office, the total federal budget deficit for the first ten months of fiscal year 2026 is $1.8 trillion. 5. U.S. President Trump posted on social media noting that Iran is demanding compensation for losses incurred during the military conflicts over the past five months. Trump stated, "I am also demanding compensation from Iran, and I have directed my representatives to make this request explicitly part of all future negotiations." 6. According to a report from the office of Iran's Supreme Leader on the 10th, Supreme Leader Muqtada signed an appointment decree appointing six individuals to high-ranking positions in the General Staff of the Armed Forces, the Islamic Revolutionary Guard Corps, and the Basij militia organization. 7. Trump extended the U.S. Jones Act exemptions for commercial vessels by 90 days, but limited the scope of shipping exemptions to energy commodities and fertilizers. 8. Nvidia announced on Monday that it will collaborate with six institutions, including KKR, Goldman Sachs, and Brookfield, to raise over $500 billion for AI computational power construction. 9. A government record shows that Federal Reserve Chair Kevin Warsh stated he has sold all of his previously pledged financial holdings. 10. Cleveland Federal Reserve President Beth Harmack indicated that multiple interest rate hikes may be necessary to bring inflation down to the 2% target, but she does not want to pre-judge where the endpoint will be.