US Strikes Iran, Oil Prices Jump 9%
The U.S. Central Command announced that on Monday the United States launched a third consecutive night of air strikes against Iran, following President Donald Trump’s earlier reinstatement of an American naval blockade of the Strait of Hormuz and his proposal that shipping companies reimburse the United States at a rate of 20 % for security costs. The latest wave of attacks targeted dozens of Iranian military installations, bringing the three‑day campaign to more than 300 targets across multiple locations in Iran. President Trump, speaking to Hugh Hewitt and on Fox & Friends, warned that the United States would “hit Iran very hard” and described the United States as “the Guardian of the Hormuz Strait,” insisting that commercial vessels should pay for the protection of the corridor.
Iran’s Islamic Revolutionary Guard Corps declared the Strait of Hormuz closed “until further notice” and warned that any cooperation by regional states with Washington would be treated as an act of war. The Iranian Foreign Ministry reiterated that future transit arrangements must be negotiated between the littoral states.
The conflict caused oil prices to surge by more than 9 % on Monday, reflecting market concerns that the Strait—through which roughly one‑fifth of global oil consumption passes—could face prolonged disruptions. The price increase adds to inflationary pressures worldwide and raises the risk of slower global economic growth, factors that are likely to affect India’s oil import bill and consumer‑price inflation.
Excluded content: Detailed remarks by President Trump, statements by U.S. Defense Secretary Pete Hegseth, diplomatic meetings between Iran and Oman, and regional air‑defense interceptions were omitted because they do not contain India‑specific implications.