Trump: Fine, We’ll Blockade the Strait Too
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The Bottom Line
President Trump announced the US Navy will blockade the Strait of Hormuz, likely causing oil price spikes.
How This Affects You
Your gasoline costs will continue to rise, and crude prices will remain damagingly high for months due to the blockade.
AI Summary
President Trump announced Sunday via Truth Social posts that the US Navy will blockade the Strait of Hormuz, intercepting any ships entering or leaving the passage that have paid Iran's tolls. This decision follows the US's inability to quickly remove Iranian mines from the strait with current equipment. The announcement is expected to cause a further spike in oil prices when markets open on Monday, and gasoline costs will continue to rise. Trump's promises to clear Iranian sea mines and detain vessels paying tolls are deemed dubious, as the Navy lacks significant mine clearing capability. The blockade makes safe transit across the waterway more confusing and uncertain, ensuring crude prices will remain damagingly high for months.
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US military says it will start blockade of all ships going to and from Iran on Monday - Reuters
Iran - Enemies of the Strait: Former NATO General discusses US blockade threats
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