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Some countries have imposed price caps and released oil stockpiles to maintain energy supplies, while others are trying to reduce consumption.
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U.S. allies and rivals responded cautiously after President Donald Trump said they should police the Strait of Hormuz, as Iranian threats to strike shipping on the vital trade route continue to cause chaos in global markets."Many countries, especially those who are affected by Iran's attempted closure of the Hormuz Strait, will be sending War Ships" to secure the shipping route, he posted Saturday on Truth Social, listing China, France, Japan, South Korea, the U.K. and "others" among t
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President Trump said in a Truth Social post that he directed U.S. Central Command to execute a bombing raid that "obliterated" military targets on Kharg Island.
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