
Trump Announces US Blockade of Strait of Hormuz Amid Iran Tensions
President Trump announced a U.S. Navy blockade of the Strait of Hormuz following the failure of 21-hour ceasefire talks with Iran in Pakistan, aiming to counter Iran's control over the strait by imposing tolls and limiting oil exports. Oil prices surged over 7% to above $100 per barrel in response to the blockade announcement, reflecting market concerns over supply disruptions. The UK has stated it will not join the blockade, though it will maintain its regional military presence.
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