US President challenges Iranian government’s decision to close oil tanker route that transports 20% to 30% of global oil
The North American president, (Republican), said this Tuesday (March 3, 2026) that the USA is preparing to intervene in the Strait of Hormuz if Iran maintains the blockade of oil tanker traffic in the region.
Trump declared that, if necessary, the US Navy could escort vessels transporting oil through the Strait.
“If necessary, the United States Navy will begin escorting oil tankers through the Strait of Hormuz as soon as possible. No matter what happens, the United States will ensure the FREE FLOW OF ENERGY to the WORLD”Trump on his profile on X.
The US President has ordered the (United States Development Finance Corporation) to provide, “at a very reasonable price”insurance against political risks and guarantees for the financial security of all maritime trade that passes through the region.
The maritime route between the Gulf of Oman and the Persian Gulf transports 20% to 30% of all global oil. On Monday (2nd March), the Iranian government announced the Strait and threatened to attack ships that try to pass through the region.
The decision is a retaliation for the United States and Israel against Iran. According to the Iranian agency Tasnimvessels in the area are receiving repeated messages from the IRGC (Islamic Revolutionary Guard Corps) stating that no ships are authorized to cross the strait.
Brigadier General Ebrahim Jabbari, senior commander of the Guard, declared in a statement reported by Iranian media that Tehran would set fire to boats passing through the Strait of Hormuz to prevent oil exports.
Despite the threats, US authorities say the route is not officially blocked. Websites specialized in monitoring vessels such as Marine Traffic and the Vessel Finder they still show ships crossing the region. THE Marine Traffic reported a 70% drop in vessel movement there after the first bombings of Iran.
By blocking the strait, Iran also suffocates countries such as Qatar, Bahrain, Saudi Arabia and the United Arab Emirates, which depend on the route to transport their oil production. These countries were already bombed by the Persian country on Saturday (Feb 28), targeting US military installations.
Iran does not have complete control of the Strait of Hormuz, but it controls a significant part of the coast and territorial waters on the northern side.
OIL SHOOTS
The price of Brent oil on the Stock Exchange reached US$85.10 in the early hours of this Tuesday (3.Mar.2026), according to the consultancy panel Investing. The price of the commodity has been on an upward trajectory since the escalation of conflicts between Iran, the United States and Israel in the Middle East.
The closure of the Strait of Hormuz caused oil cargoes traded around the world to be dammed. Uncertainty about supply puts upward pressure on prices.
Around 11am (Brasília time), the price of brent it was at US$84.27. It is the global benchmark for crude oil pricing. Its fluctuation affects all oil producing and trading countries.
