A third US aircraft carrier deployed near Iran as military officials prepare new attack plans for Hormuz. Pentagon considers punishing NATO allies Spain and UK for lack of support. Brent crude hits $105.80. Israel and Lebanon extended their ceasefire three weeks. Pope condemns Iranian protest killings.
Trump ordered the Navy to shoot any boat laying mines in Hormuz. Iran collected its first transit tolls from passing ships. Brent crude surged past $103. Iranian forces seized vessels with Montenegrin, Croatian, Ukrainian and Filipino crew. Mojtaba Khamenei lacks his father's authority, NYT reports. UN warns 32 million will fall into poverty.
The Strait of Hormuz carried 18 million barrels of oil daily before the 2026 Iran War. Since March, Iran's IRGC has blocked the channel multiple times. Zero tankers passed on April 20. Oil prices hover below $100. Here is what happened to global oil shipments and what comes next.
IEA chief Fatih Birol calls the Iraq-Turkey oil pipeline a golden opportunity to bypass the Strait of Hormuz. The route would move crude from southern Iraq through Turkey to the Mediterranean, avoiding the volatile Persian Gulf entirely.
Iran's foreign minister Abbas Araghchi announced the Strait of Hormuz is fully open to commercial shipping. Oil prices dropped 10 percent and global markets surged on the news.
Trump considers limited strikes on Iran, 158 Iranian naval vessels destroyed, and Israel-Lebanon negotiations begin in Washington as the Strait of Hormuz blockade reshapes global oil markets.