CNBC Daily Open: Trump's Strait of Hormuz claim meets crude reality

U.S. President Donald Trump boards Air Force One on August 9, 2026 at Morristown Airport in Morristown, New Jersey. Eric Lee | Getty ImagesHello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.U.S. President Donald Trump has claimed that the U.S. Navy has "100%" control of the Strait of Hormuz — investors aren't so sure. Oil prices have continued to climb, with both U.S. crude and international benchmark Brent up by around 2% in early trading.Over in Asia, chip giant Nvidia is eyeing the possibility of turning its artificial intelligence chips into Wall Street's newest asset class, partnering with an all-star cast of six U.S. asset managers. What you need to know today"It's open now," President Donald Trump told reporters, adding that the U.S. was "the only one that has control of the Strait of Hormuz right now."Not quite, it seems. It seems that fear, along with its old sidekick, uncertainty, has control. Oil futures are still climbing, demonstrating that the supply crunch wrought by the closure of the critical waterway is not expected to abate soon. Prices of U.S. crude rose 2% early on Tuesday, adding to an over 5% rise on Monday t...