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Trump discusses extended Strait of Hormuz, Iran blockade with energy executives

Trump and senior aides weighed a longer blockade to pressure Tehran on its nuclear program while trying to limit higher fuel costs for Americans.

  • On Wednesday, President Donald Trump stated the U.S. naval blockade against Iran could last months, as Brent oil futures soared another 7.6 percent to $119.69, the highest price since 2022.
  • Iran has sought to exert control over the Strait of Hormuz, prompting the blockade that Parliament Speaker Mohammad Bagher Ghalibaf said aims to create division and "make us collapse from within."
  • The Pentagon confirmed the war has already cost $25 billion to U.S. taxpayers, while the UN Development Programme warned the conflict could plunge more than 30 million people into poverty.
  • An Iranian army spokesman said Tuesday that "we do not consider the war to be over," emphasizing that Tehran had "no trust in America" regarding potential diplomacy.
  • Russian President Vladimir Putin warned Trump of "damaging consequences" if the United States and Israel resume their war on Iran, while Trump has again threatened the nation with further conflict.
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Energy News for the United States Oil & Gas Industry | EnergyNow.com broke the news on Wednesday, April 29, 2026.
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