Trump Reinstates Hormuz Blockade and Tolls as Strikes Resume

Global energy markets face renewed pressure as the United States and Iran exchange strikes over control of the Strait of Hormuz, a waterway that carries roughly one-fifth of the world’s traded oil. Oil prices climbed more than 9 percent on Monday to about $81 a barrel for Brent crude, their highest level since mid-June, after crossings through the strait fell by about 52 percent in recent days.

The immediate trigger was the collapse of a month-old memorandum of understanding that had produced a fragile ceasefire. President Trump notified Congress on July 10 that fighting resumed on July 7 and, on Monday, directed U.S. Central Command to conduct a third consecutive night of strikes. CENTCOM stated the five-hour operation, which began at 4:45 p.m. ET, targeted coastal defense systems, missile and drone sites, and maritime capabilities at Bushehr, Chabahar, Jask, Konarak, Abu Musa, and Bandar Abbas. Iranian state media reported explosions in the same areas and said one projectile struck western Bandar Abbas without causing casualties.

Iran responded with attacks on commercial shipping and U.S.-linked facilities. The UAE Ministry of Defense reported that two of its tankers, the Mombasa and the Bahia, were hit by Iranian cruise missiles in Omani waters inside the strait; one Indian crew member was killed and eight others wounded, six of them Indian and two Ukrainian. The Islamic Revolutionary Guard Corps claimed responsibility, stating the vessels had ignored warnings and entered a mined route. Iran also launched drones at a U.S. Patriot battery and other facilities in Kuwait, struck the U.S. Fifth Fleet base at al-Juffair in Bahrain, and fired ballistic missiles toward a U.S. airbase in Jordan; Jordan’s army said it intercepted four incoming missiles.

Trump announced that the United States would reinstate its naval blockade of Iranian ports at 4 p.m. EDT Tuesday and would charge a 20 percent fee on cargo transiting the strait to recover protection costs. He told reporters the United States was “protecting a very rich portion of the world” and expected reimbursement. Iranian Foreign Minister Abbas Araghchi replied on social media that whoever provides safe passage “should be compensated” and asserted that Iran “has always been the GUARDIAN of the Strait and will remain so FOREVER.” The International Maritime Organization stated there is no legal basis for mandatory tolls on straits used for international navigation.

Both sides have described the resumed fighting as limited. Trump said a deal remains possible; Iranian parliamentarian Ebrahim Azizi said Tehran would defend its red lines on Hormuz management. Shipping analysts note that any sustained toll or blockade would raise delivered energy prices regardless of which party collects the fee.