Trump Pressures NATO, China on Hormuz; Oil Soars

With international oil prices surging 45% to approximately $106 a barrel following escalating conflict in the Middle East, Trump emphasized that beneficiaries of Gulf oil, particularly Europe and China, should contribute to the US-led effort. He threatened to delay an upcoming summit with Chinese President Xi Jinping, demanding Beijing's help given its significant reliance on the strait.

The President also expressed frustration with the UK's initial reluctance to deploy military assets, criticizing NATO as a "one-way street." Following US strikes on military targets on Iran's Kharg Island, Trump signaled readiness for further action, including targeting oil infrastructure, claiming Iran's military capabilities were largely "decimated." Iran, meanwhile, attempted to break the coalition by allowing all but US and Israeli ships passage. This situation underscores heightened geopolitical tensions and significant risks to global energy supply.