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The Strait of Hormuz is now front and center as global oil prices spike amid the U.S.-Israel conflict with Iran.<\/p>\n

President Donald Trump now issues a stern warning to NATO allies, making it clear there will be consequences if they don\u2019t step up to keep the vital waterway open.<\/p>\n

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Oil prices soaring
\nMore than 1,000 cargo ships, mostly oil and gas tankers, have been blocked from passing through the strait of Hormuz after Iran partially shut the route.<\/p>\n

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While the war has tightened Iran\u2019s grip on the strait \u2014 including the deployment of naval mines that have made the waterway extremely dangerous to cross \u2014 Tehran has also warned that it may target any vessels linked to the U.S. or its allies trying to pass through.<\/p>\n

The bottleneck has sent oil prices soaring, crude jumped to around $106 a barrel, a 45% surge since fighting escalated. Oil and gas prices stayed high Monday in U.S. Gas prices rose 2 cents to $3.72 a gallon on average, the highest since October 2023.<\/p>\n

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Since the war began, prices have jumped 74 cents per gallon, marking the biggest monthly increase since Hurricane Katrina, according to CNN.<\/p>\n

On Sunday, Trump told the Financial Times that European nations and other oil-dependent countries must join a U.S.-led effort to secure the strait.<\/p>\n

\u201cIt\u2019s only appropriate that people who are the beneficiaries of the Strait will help to make sure that nothing bad happens there,\u201d he said.<\/p>\n

\u201cIf there\u2019s no response or if it\u2019s a negative response I think it will be very bad for the future of NATO,\u201d Trump added.<\/p>\n

Called on China
\nThe president also called on China to pitch in, noting that the country imports roughly 90% of its oil through the waterway.<\/p>\n

\u201cWe\u2019d like to know before that. It\u2019s [two weeks is] a long time \u2026 We may delay,\u201d he said, without specifying how long.<\/p>\n

Trump also criticized NATO members for offering minimal assistance.<\/p>\n

\u201cWe have a thing called NATO. We\u2019ve been very sweet. We didn\u2019t have to help them with Ukraine. Ukraine is thousands of miles away from us\u2026 But we helped them,\u201d he said.<\/p>\n

\u201cNow we\u2019ll see if they help us. Because I\u2019ve long said that we\u2019ll be there for them, but they won\u2019t be there for us. And I\u2019m not sure that they\u2019d be there.\u201d<\/p>\n

He singled out the UK for not fully committing, recalling a conversation with Prime Minister Sir Keir Starmer.<\/p>\n

\u201cThe UK might be considered the number one ally\u2026 and when I asked for them to come, they didn\u2019t want to come. And as soon as we basically wiped out the danger capacity from Iran, they said, \u2018Oh well, we\u2019ll send two ships,\u2019 and I said, \u2018We need these ships before we win, not after we win.\u2019\u201d<\/p>\n

Trump also hinted that the U.S. could strike Iran\u2019s oil infrastructure again.<\/p>\n

\u201cYou saw we hit Kharg Island, everything but the pipes yesterday. We can hit that in five minutes. And there\u2019s not a thing they can do about it,\u201d he said, referring to the key oil-loading hub off the Iranian coast.<\/p>\n

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