Oil Prices Surge to $100 Amid Strait of Hormuz Tensions as Trump Criticizes NATO Allies

Global oil markets were thrown into fresh uncertainty on Tuesday as crude prices hovered near $100 per barrel, driven by escalating tensions in the strategically vital Strait of Hormuz. The surge follows growing security concerns after disruptions to shipping routes intensified amid the ongoing conflict involving Iran and its adversaries.

Speaking from the White House, Donald Trump sharply criticized members of the NATO for declining to support U.S.-led military efforts in the region. He described their reluctance as a “very foolish mistake,” expressing frustration that while allies reportedly agree with Washington’s position, they are unwilling to commit forces to secure the vital oil corridor.

Despite his criticism, Trump indicated he has no immediate plans to retaliate against NATO partners for their stance. He maintained that the alliance broadly supports the joint U.S.-Israeli military campaign, now entering its third week, but stopped short of suggesting any policy shift such as withdrawing from NATO—an idea he has floated in the past.

The crisis deepened after Iran responded to recent strikes by deploying drones, missiles, and naval mines, effectively disrupting tanker movement through the Strait of Hormuz, a passage responsible for roughly 20 percent of global oil supply. The disruption pushed crude prices sharply upward from pre-conflict levels of about $65 per barrel to over $100, amplifying fears of broader economic fallout.

Although Iran has claimed the strait remains open, it warned that access may not be guaranteed for adversarial nations. Analysts caution that unless full navigation is restored, global energy markets—and by extension, consumer prices—could face sustained pressure, with ripple effects likely to be felt across economies worldwide.

source: punch