U.S. President Donald Trump has called on multiple nations to join a coalition aimed at protecting the Strait of Hormuz, a critical chokepoint through which approximately one-fifth of the world’s energy supplies are transported. Trump warned that countries heavily reliant on Gulf oil have a shared responsibility to safeguard the waterway as conflict between the United States, Israel, and Iran enters its third week.
Despite the appeal, key allies Japan and Australia have indicated they have no current plans to deploy naval vessels to escort ships through the region. Meanwhile, the ongoing war has sent shockwaves through global energy markets, pushing crude oil prices past $104 per barrel. Iran, for its part, has signalled no intention of backing down, declaring it is prepared to defend itself indefinitely.