Shipping costs have increased by more than 10 percent in the past month due to the US-Israel war on Iran.

President Donald Trump said he ordered the U.S. Navy to find and interdict any ship in international waters that has paid a toll to Iran to transit the strait.

Oil prices have been rising as shipping through the strait has essentially stalled since late February.

Shipping costs have increased by more than 10 percent in the past month due to the US-Israel war on Iran.