Hormuz Strait

Trump said he will soon decide whether to accept an Iran deal and emphasized that the Strait of Hormuz must be open to international shipping, Reuters reported. The Strait of Hormuz is one of the world’s most critical oil transit chokepoints, with roughly one-fifth of global petroleum supply passing through it. Recent Middle East tensions have driven oil prices sharply higher, pressuring the global economy. Analysts say Trump’s statement could signal a significant shift in US Iran policy, though details of any potential agreement remain unclear. International markets are closely monitoring developments. ...

France has deployed its only nuclear-powered aircraft carrier, the Charles de Gaulle, to the Red Sea in response to escalating tensions around the Strait of Hormuz, according to Reuters. The move signals Europe’s growing military involvement in the Middle East. The Charles de Gaulle carries approximately 40 aircraft and 2,000 crew members, making it the French Navy’s most powerful strategic asset. The deployment is seen as a response to Iranian threats to international shipping lanes. ...

Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.