Amid escalating hostilities between the United States and Iran, President Donald Trump announced that the Strait of Hormuz remains open but said Washington is reimposing a naval blockade on Iranian vessels. Trump declared that any cargo shipped through the strategic waterway would face a 20% levy to cover American costs for maintaining safety and security there. His remarks came as U.S. forces struck Iranian targets for a second consecutive day and Tehran retaliated against American allies in the Gulf, heightening regional tensions. The confrontation has pushed global oil prices upward, with Brent crude reaching $79.42 per barrel, stirring fresh concerns about inflation and the potential for higher interest rates according to market analysts.