Key facts
- President Donald Trump stated the U.S. military secretly escorted over 100 million barrels of oil out of the Strait of Hormuz.
- Trump claimed this action defied Iran's restrictions and contributed to oil prices hovering around $90 a barrel.
- Iran's military ordered the complete closure of the Strait of Hormuz to all vessels.
- US Treasury Secretary Scott Bessent warned Iran of economic and financial costs for hostile moves.
- Three Indian sailors were killed in a US strike on an oil tanker off Oman.
President Donald Trump announced that the United States had secretly moved over 100 million barrels of oil out of the Strait of Hormuz, a critical global energy chokepoint. Speaking from the Oval Office, Trump stated this operation defied Iran's restrictions and suggested it was a reason oil prices had remained around $90 a barrel, rather than exceeding $100.
The Strait of Hormuz, which typically handles 20% of global energy flows, has been largely shut since early March following attacks by the U.S. and Israel on Iran. Iran had previously stated it would not permit passage through the strait.
In response to recent U.S. strikes, Iran's military ordered a complete closure of the Strait of Hormuz to all vessels. U.S. Treasury Secretary Scott Bessent warned Iran that its current strategy would incur significant economic and financial costs, threatening to seize Iranian assets. Iran's deputy foreign minister, Kazem Gharibabadi, condemned the U.S. attacks as a "widespread and utter nullification of the ceasefire" and vowed a firm response.
The situation has seen further escalation, with three Indian sailors killed in a U.S. strike on an oil tanker off Oman. The U.S. stated the vessel had violated its blockade of Iranian ports. Meanwhile, Hezbollah claimed to have shot down an Israeli drone in Lebanon's Bekaa Valley. Trump also indicated that Iran's downing of a U.S. helicopter was being viewed as a means to "force a deal."