US Launches New Iran Strikes; Trump Announces Strait of Hormuz Fee
The US military launched a third consecutive night of strikes against Iran on Monday, after President Trump vowed to hit Iran hard and announced the US will 'keep' the Strait of Hormuz, impose a 20% fee on cargo shipments, and reimpose a blockade. Iran responded by declaring the strait closed until stability is restored. Tankers have been attacked in the strait, escalating the conflict. The strikes cast doubt on an interim peace deal and drove oil prices higher, though prices later settled lower on hopes shipping would resume. The US demands Iran publicly commit to stopping attacks and keeping the strait open without tolls. Trump has also weighed attacking Iranian nuclear sites, according to reports. The situation remains volatile with both sides asserting control.
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Sources
Oil prices settled lower on Friday after the latest round of U.S.-Iran fighting as traders grew hopeful that shipping would eventually resume in the Strait of Hormuz, but prices finished with sharp weekly gains.
The United States is demanding that Iran publicly state it will stop attacks on ships in the Strait of Hormuz and that all lanes in the strait will be open to shipping with no tolls, senior U.S. officials said on Friday.
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