WS #12080
US reimposes naval blockade on Iran, launches new strikes; Iran retaliates against Gulf states and declares oil export ban; Trump reverses plan to charge 20% toll on Hormuz shipping, citing Gulf investment deals; oil prices surge ~3% (Brent above $86).
US-Iran Conflict Escalation and Oil Price Surge
US reimposes naval blockade on Iran, launches new strikes; Iran retaliates against Gulf states and declares oil export ban; Trump reverses plan to charge 20% toll on Hormuz shipping, citing Gulf investment deals; oil prices surge ~3% (Brent above $86).