# Tensions escalate between US and Iran in the Strait of Hormuz Trump's transit fee announcement and new military strikes deepen the regional crisis. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-07-13 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/79062c4f-fa66-40ac-8ee8-d8314a8d17cd ## US military escalation The US announced a new round of military strikes against Iran. Central Command stated these attacks aim to degrade Iran's military capabilities and reduce threats to civilian and commercial ships in the Strait of Hormuz. Trump described the operation as 'major'. ## Transit fee controversy The Trump administration reversed its opposition to charging transit fees in the Hormuz Strait. The President justified this by claiming the US protects 'a very wealthy part of the world'. This policy contradicts international maritime laws. ## Iran's strong response Iranian FM Araghchi mocked Trump's fee announcement, asserting Iran as the 'eternal guardian' of the strait. Tehran vowed to counter any US interference, rejecting Washington's presence in the strategic waterway as illegitimate. ## Global energy markets affected Brent crude prices rose 7.8% to $81.92 per barrel amid escalating tensions. The strait handles one-fifth of global oil and gas trade. The instability threatens worldwide energy supplies and could trigger broader economic disruptions. ## Ceasefire collapse The February ceasefire agreement effectively ended following Iranian ship attacks and US counterstrikes. Trump accused Iran of violating terms and reinstated the blockade. Diplomatic channels appear completely blocked. ## Regional allies on alert Missile alarms sounded near the US Navy's 5th Fleet base in Bahrain. Kuwait's consulate in Iraq was attacked. Iran's strikes on Arab states and US retaliations are increasing fears of broader regional conflict. ## International community stance The UN's maritime agency opposed mandatory transit fees in international waterways. Gulf states also rejected such charges. This crisis at a critical global trade chokepoint may cause significant economic ripple effects worldwide. ## Sources covering this story - https://fortune.com/2026/07/13/us-strikes-iran-naval-blockade-trump-reversal-hormuz-fees/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._