US reimposes Iran naval blockade and conducts third night of airstrikes amid Strait of Hormuz escalation

The United States has reinstated a naval blockade on Iranian shipping and carried out a third consecutive night of airstrikes, following recent Iranian attacks in the Strait of Hormuz. This escalation has significantly impacted global oil prices, which surged to a one-month high, and raised concerns about supply disruptions. President Trump also proposed a 20% fee for guarding the vital shipping lane.