The United States is pressing ahead with plans for an international coalition to open the Strait of Hormuz, according to a State Department cable seen by Reuters, as oil prices surge on fears of lengthy disruptions to global fuel supplies.
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Two months into the war that started with U.S.-Israeli strikes on Iran, the vital sea channel remains closed, choking off 20% of the world’s supplies of oil and gas. That has sent global energy prices surging and heightened concerns about the risks of an economic downturn.
Efforts to resolve the conflict have hit an impasse, with a ceasefire in place since April 8 but Iran still blocking the strait in response to a U.S. naval blockade of Iran’s oil exports, the country’s economic lifeline.
Trump warns Iran better 'get smart soon' and accept nuclear deal
