Trump drops threat of strait of Hormuz tolls, saying Gulf states agreed ‘massive’ US investment instead – Middle East crisis live

Why This Matters

Key context: <p>US president claims shipping route is open for all except Iranian ships after another night of strikes on Iran</p><ul><li><p><a href="https://www.theguardian.com/world/2026/jul/13/us-launches-third-night-of-strikes-on-iran-as-trump-announces-hormuz-blockade">US launches third night of strikes on Iran as Trump announces Hormuz blockade</a></p></li></ul><p><strong>Resurgent oil and fuel prices could cement a fourth interest rate rise in Australia this year if Donald Trump’s renewed conflict with Iran is not resolved within a week</strong>, economists warn.</p><p>US missile strikes on Iran and Trump’s announcement of a new maritime blockade has lifted oil prices to their highest point in the month since the two countries <a href="https://www.theguardian.com/world/2026/jun/15/us-iran-peace-deal-terms-details-conditions-explained-what-do-we-know-hormuz-lebanon-israel-nuclear">agreed to a peace deal</a>.</p> <a href="https://www.theguardian.com/world/live/2026/jul/14/us-iran-war-live-updates-strikes-strait-of-hormuz-middle-east-crisis-trump-latest-news">Continue reading...</a> This development from The Guardian highlights ongoing changes in the sector.