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Frozen copy retrieved 2026-07-13T20:00:00Z for audit 2026-07-14T03-35-17Z. Original URL:
https://www.cnbc.com/2026/07/13/us-iran-war-hormuz-oil-trump.html. The Stochastic Parrot does not host or redistribute; this snapshot exists solely so that quoted spans remain verifiable if the original page changes. Character offsets below index into this plain text; highlighted spans are the quotes cited in the audit.
U.S. and Iran exchange strikes as Strait of Hormuz standoff escalates
U.S. and Iran exchange strikes as Strait of Hormuz standoff escalates. U.S. and Iranian forces exchanged strikes over the weekend and issued conflicting accounts over whether the Strait of Hormuz remains open to shipping. U.S. Central Command said Sunday that American forces had successfully hit dozens of targets at multiple locations, including by using one-way attack sea drones for the first time. The U.S. and Iran also issued conflicting accounts over whether the Strait of Hormuz remains open to shipping. Located in the gulf between Oman and Iran, the Strait of Hormuz is recognized as one of the world's most critical energy choke points. The narrow waterway typically handles around 20% of the world's oil traffic. Analysts have told CNBC that Oman's ability to impose service fees sits within tight legal limits, given that the strait is governed by the principle of transit passage, which does not allow states to charge vessels for passing through. Service fees, however, may be one way to circumvent this.