By Ian Werther in News — 15 Mar 2026

U.S. escalates pressure on Iran as Hormuz tensions rise and oil prices climb

Washington is watching a volatile clash with Iran unfold in unusually assertive terms from U.S. officials and allies. President Donald Trump, in an interview with Fox News Radio, warned that next week would see a very strong U.S. strike on Iran, and hinted that while war could end “sooner than you think,” it might be drawn out for a period of time. He also left open the possibility of U.S. naval escorts for ships passing through the Hormuz Strait if needed, though he said Washington would monitor the situation first.

In parallel briefings, Defense Secretary Hagseth and top military leaders signaled intensified operations. Hagseth said Iran would see more air and ground strikes than usual in the coming hours, while Chairman of the Joint Chiefs Gen. Dan Cane said the current actions aim to disrupt Iran’s naval and mine-laying capabilities and to protect commercial shipping from attack. The statements framed Iran as a central target in a broadening confrontation.

Portions of Oman, The United Arab Emirates and Iran are seen at the Strait of Hormuz (26.0N, 56.0E) in this view. A number of ship wakes can be seen in the area of the strait. Sunglint in the Persian Gulf to the northwest, accentuates the complex currents and oil slicks, seen as dark toned blue streaks on the surface. Qeshm Island, just off the coast of Iran, can be seen on the edge of the photo. — Representative image for context; not directly related to the specific event in this article. License: Public domain. Source: Wikimedia Commons.

Hagseth also commented on the Iranian leadership, claiming the supreme leader Mosahta… actually Mojtaba Khamenei may be injured or disfigured, with his father dead and the leadership in disarray. He asserted Iran is in a state of confusion, and questioned who is effectively commanding the country. The official did not provide corroborating evidence, and U.S. officials have offered no public confirmation of any leadership change in Tehran.

Asked about whether Iran has mined the Hormuz Strait, Hagseth said there is no clear evidence to confirm that claim to date. Separately, the U.S. State Department reiterated a reward offer of up to $10 million for information leading to the location and fate of Iran’s senior leaders, including Mojtaba Khamenei, underscoring Washington’s intent to apply leverage beyond kinetic actions.

The confrontation has unsettled energy markets. Brent crude traded above $103 a barrel, marking a third day of gains and a roughly 42% increase since the last major Iran-related conflict raised prices. West Texas Intermediate rose to about $98.70 a barrel. Market nerves persisted even as the United States signaled it would ease some Russian oil restrictions to boost supply, a move traders viewed as insufficient to calm volatility.

The narrow Strait of Hormuz lies between the Persian Gulf and the Gulf of Oman, separating Iran (north) from the Arabian Peninsula (south). Only about 21 miles (34 km) wide at the narrowest point and roughly 96 miles (155 km) long, about thirty percent of the world’s seaborne oil and nearly one-quarter of the liquified natural gas (LNG) supply passes through this strait — all on shipping lanes that measure only two-mile wide. It has been estimated that 21 million barrels of oil, with a value of 1.2 billion US dollars (USD), pass through the strait every day.
On December 2, 2020, the Moderate Resolution Imaging Spectroradiometer (MODIS) on board NASA’s Terra satellite acquired a true-color image of the Strait of Hormuz.

The arid landscape of Iran sits in the north, with Qeshm Island, the largest in the Persian Gulf, just off the Iranian coast. The tiny Strait of Khuran separates the island and the mainland and bounds a wetland of international importance, recognized by Ramsar. These wetlands provide critical habitat to two globally threatened species: the Dalmatian Pelican and the Green sea turtle. In the south, the rocky and rugged Musandam Peninsula juts into the Strait of Hormuz. The tip of the peninsula is filled by the Musandam Governate, an exclave of Oman. To the south, the land on the peninsula belongs to the United Arab Emirates. — Representative image for context; not directly related to the specific event in this article. License: Public domain. Source: Wikimedia Commons.

U.S. stock markets ended lower as investors weighed the risk of broader conflict and continued supply concerns. The developments come as global buyers monitor potential disruptions to the critical Hormuz Strait, a chokepoint through which a substantial share of the world’s oil passes.

For U.S. readers, the stakes go beyond regional security. A widening Iran confrontation could influence global energy prices, the reliability of oil and refined products, and the stability of supply chains in manufacturing, transportation, and technology sectors. Washington’s policy choices, including potential temporary waivers of the Jones Act to ease domestic fuel shipments and the use of sanctions or bounties to deter leadership activity, could shape oil markets and investor sentiment in the near term. The situation also underscores how aligned or divergent U.S. and allied strategic goals are with ongoing efforts to deter Iranian escalation while avoiding a broader regional war.

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