Trump’s blockade, oil shock, toll: Key questions answered on renewed Iran war
The US reinstated a naval blockade of Iranian ports and imposed a 20% levy on cargo passing through the Strait of Hormuz amid escalating tensions with Iran, which recently attacked three commercial vessels. Oil prices surged to a four-week high, with Brent crude rising 2% to $84.98 per barrel, following a significant increase earlier this month. The situation continues to evolve as military actions between the US and Iran escalate.