President Donald Trump said Monday that the United States should control and “guard” the Strait of Hormuz, the strategic waterway through which about one-fifth of global oil production typically passes, as fighting between U.S. and Iranian forces intensified.
In a Fox & Friends interview, Trump said Washington would “keep” and possibly “run” the strait, suggesting other nations could reimburse the United States for protecting shipping. He later announced the reinstatement of a naval blockade against Iran and a 20% charge on cargo moving through the waterway, saying the fee would cover security costs.
Markets reacted to the renewed tensions. Brent crude rose more than 3%, nearing $80 a barrel, while stocks in Europe and Asia declined and U.S. futures slipped. The strait’s threat level has been described as “severe,” reflecting concerns about commercial shipping and regional instability.
U.S. Central Command said it launched additional strikes against Iran over the weekend and again Monday, saying the operations were intended to reduce Iran’s ability to attack civilians and commercial vessels. Trump also said the United States would target Pickaxe Mountain, an underground facility near Natanz that Iran identifies as a centrifuge manufacturing site, while some analysts suspect it may support uranium enrichment.
The latest confrontation followed U.S. claims that Iranian forces attacked ships transiting the strait. Iran, in turn, reported attacks on U.S. assets in several regional countries, while Bahrain and Jordan said they intercepted Iranian missiles.
Tehran says it has closed the Strait of Hormuz and argues U.S. military activity must end for it to fully reopen. Trump says the strait remains open, though ship-tracking data indicates traffic has fallen sharply. The escalation has further weakened a June cease-fire memorandum, with negotiations showing little visible progress before an August deadline. Diplomatic channels remain open, but officials have reported no breakthrough yet.