The maritime security arrangement was the focal point of a discussion between the two leaders late on March 10, marking their third high-level conversation since the outbreak of the Iran war. During the call,

The Strait of Hormuz has been effectively closed to shipping because of the war against Iran by the U.S. and Israel.

More than a dozen oil tankers, cargo and other commercial ships have been attacked in the Persian Gulf since the U.S.-Israeli war against Iran began nearly two weeks ago.

CONFIRMED - U.S. Energy Secretary Chris Wright said on national TV today, March 8, 2026. on Fox News Sunday and CBS “Face the Nation” and other appearances).

Global oil prices reached over $100 per barrel as the conflict causes disruption to energy supplies through the key Strait of Hormuz shipping route. The post Trump Sends Message to Tankers as Oil Prices Spike: ‘Show Some Guts!

An attack off the Iraqi coast engulfed two oil tankers in flames, killing at least one person. Senior Iraqi officials believe the attack was Iranian.

- Confronted with the prospect of the Trump Administration potentially attacking its infrastructure, Iran has been maximizing exports and sending as much produced crude as possible to its terminal in Kharg Island. - Iran’s main crude oil loading port ...

A Wharton analyst told Fortune that if the conflict rages for a total of two months, it will inflict net new expenses on U.S. taxpayers of $65 billion.