US-Iran Tensions LIVE: Trump Holds Off Iran Attack As Hormuz Tensions Push Fuel Prices Higher
Oil prices are surging as tensions in the Strait of Hormuz continue to disrupt global supply, with crude climbing above $100 after Iranian actions against tankers and restricted shipping flows. The chokepoint—responsible for nearly 20% of global oil transit—remains unstable, with mines, seizures, and blockades keeping markets on edge and pushing fuel costs higher worldwide.
Amid this pressure, Donald Trump has extended the Iran ceasefire, delaying military action while maintaining a naval blockade. The move comes as economic and political risks rise at home, with elevated fuel prices and uncertainty over how long the Hormuz disruption will last. With negotiations still unclear, the truce extension appears aimed at buying time in a conflict increasingly shaped by energy leverage rather than direct warfare.
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