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.

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.

France’s Ministry of Defence stated the operation aims to protect international waterways and coordinate with allied nations. This follows US orders to pause military operations in the Strait of Hormuz to allow for peace negotiations.

Analysts note that France’s military deployment both supports allies and demonstrates France’s independent diplomatic posture in the Middle East. As the Iran situation evolves, European nations’ roles are likely to become more prominent.

On April 30, 2026, international oil prices experienced a dramatic surge, with Brent crude breaking through the $126 per barrel mark — the highest level since 2022. The spike was driven directly by escalating military tensions between the United States and Iran, and ongoing U.S. pressure on the Strait of Hormuz blockade.

Military Signals Behind the Oil Surge

According to CNBC and Bloomberg, the immediate trigger for the price surge was widespread reporting that senior U.S. military commanders would brief President Trump on new military options against Iran later today. Axios, citing sources familiar with the matter, reported that the briefing would cover multiple scenarios, including a “short and powerful” strike plan.

CNN’s live updates reported that Trump is considering extending the blockade of Iranian ports and has rejected Iran’s reconciliation proposals. In an exclusive report, Axios stated that Trump has made clear the blockade will remain in place until a nuclear deal is reached.

Pentagon Discloses War Costs

Meanwhile, the Pentagon disclosed for the first time the cumulative cost of the Iran conflict during a congressional hearing. According to The New York Times, Defense Secretary Hegseth’s report to Congress estimated that military operations to date have cost approximately $25 billion.

At the House Armed Services Committee hearing, Hegseth fired back at lawmakers questioning the war’s expenditures, labeling them “defeatist.” The remarks drew widespread criticism from both sides of the aisle.

Hormuz Strait Shipping at a Standstill

A diplomatic cable obtained by Reuters reveals that the United States is seeking to build a new international coalition to restore shipping through the Strait of Hormuz. The Wall Street Journal similarly reported that as traffic through the strait continues to stall, the U.S. is proposing new coordination frameworks to allied nations.

Approximately one-fifth of global oil shipments pass through the Strait of Hormuz. The ongoing blockade has severely disrupted global energy supply chains, with crude-importing nations in Europe and Asia facing mounting supply pressures.

Market Response and Outlook

Energy analysts note that if the Hormuz blockade persists for several more weeks, Brent crude could climb further toward $135 per barrel. Federal Reserve officials have already incorporated geopolitical risk into their interest rate decision-making, and market concerns about rising global inflation are intensifying.

In a separate development, Putin warned Trump that further military action against Iran would bring “dire consequences,” adding another layer of uncertainty to an already volatile situation.

Source: CNBC · Bloomberg · CNN · The New York Times