Iran's Hormuz Blockade vs. US 'Open' Claim Ignites Global Fuel Crisis, $68B U…
Verdict: False
### Topic
Iran's Hormuz Blockade vs. US 'Open' Claim Ignites Global Fuel Crisis, $68B US Consumer Cost
### Summary
The Strait of Hormuz, vital for 30% of global seaborne crude oil, has been largely blocked by Iran since February 28, 2026, following US-Israeli airstrikes. This has triggered a surge in oil prices, with Brent Crude hitting $95 a barrel, and cost American consumers over $68 billion in extra fuel expenses. Despite US military assertions that the strait remains open, Iran's Revolutionary Guard claims control and has actively enforced blockades, leading to escalating military and economic confrontation.
### Body
The Strait of Hormuz, a critical maritime chokepoint through which 30% of the world's seaborne-traded crude oil passes daily, has been largely blocked by Iran since February 28, 2026, following US-Israeli air strikes on Iran. Prior to this conflict, the strait facilitated approximately 25% of the world's seaborne oil trade and 20% of its liquefied natural gas (LNG). Iran's Revolutionary Guard Corps (IRGC) has actively enforced this blockade through warnings, boarding and attacking merchant ships, and deploying sea mines. Concurrently, the US imposed its own blockade on Iranian ports from April 13 to May 29, 2026.
The economic fallout is stark: oil prices surged, with Brent Crude touching $95 a barrel on July 22, 2026, marking a $20 increase since attacks resumed on July 7. Brent crude rose nearly 5% to above $95/bbl on that date, its highest in almost six weeks, while US crude climbed over 4% to above $88/bbl. Overall, oil prices have risen approximately 30% since the start of July 2026 and more than 55% year to date, reversing declines seen after a mid-June memorandum of understanding (MOU). The conflict has choked off shipments, leading to production cuts in oil-producing nations like Iraq, which lost over $40 billion in revenue from its pre-war exports of 3.5 million barrels per day mostly via Hormuz. American consumers have borne a significant burden, paying over $68 billion in extra costs for gas and diesel since the war began as of July 14, 2026, averaging more than $500 per household. Gas and diesel prices are about 30% higher than before the war, with regular gasoline at $3.86 per gallon on July 14, 2026, compared to $2.98 on February 27, 2026.
Diplomatic efforts have repeatedly collapsed. A two-week ceasefire on April 7, 2026, saw intermittent hostilities. An interim deal mediated by Pakistan on June 14, 2026, which included reopening the Strait of Hormuz and a 60-day cessation of hostilities, was declared 'over' by President Donald Trump on July 8, 2026. The Trump administration subsequently revoked a waiver on July 9, 2026, that had allowed Iran to sell oil as part of the peace deal. Militarily, the US carried out its 12th consecutive night of strikes on Iran on July 23, 2026, while US Central Command (CENTCOM) reported Iran had attacked more than 30 commercial ships transiting the Strait of Hormuz over the past three months. The conflict has cost the US an estimated $37.5 billion so far as of July 22, 2026, with 17 US service members killed and approximately 430 wounded.
The US military maintains a steadfast public posture that the Strait of Hormuz remains open despite renewed Iranian attacks. US Central Command (CENTCOM) explicitly stated on July 23, 2026, that 'Iran does not control the Strait of Hormuz' and that the international waterway 'remains open for passage, despite threats from the Revolutionary Guards and their attacks.' This narrative is reinforced by CENTCOM's social media assertion that 'The international waterway remains open for transit regardless of IRGC threats and attacks. Commercial vessels continue to use the strait with US military support.' The US government characterizes its ongoing strikes, including the 12th straight night of operations against Iran on July 23, 2026, as a defensive response aimed at 'further degrad[ing] Iran's ability to attack civilian mariners and commercial vessels' by targeting 'maritime capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets.'
US Secretary of State Marco Rubio has publicly warned Asian leaders that Iran's demand to control and collect tolls in the Strait of Hormuz would not only threaten the world's economy but also establish a dangerous precedent, arguing that if a nation-state can control an international waterway and attack ships for non-payment, it could repeat elsewhere. This stance underscores the US military's long-standing presence in the Persian Gulf, dating back to the end of WW2, with stated objectives including enforcing UN sanctions, deterring regional aggressors, ensuring global energy prices do not spike, and protecting Gulf Arab nations' access to the waterway for oil exports. Major US military facilities, such as the Fifth Fleet headquarters in Bahrain, Al Udeid Air Base in Qatar, and Camp Arifjan in Kuwait, are presented as essential for maintaining regional security and stability. Furthermore, supporters of the Trump administration's current negotiations with Tehran frame an agreement as a pragmatic strategy to prevent escalation and slow Iran's nuclear progress, while the administration's agreement to work with Saudi Arabia on a civilian nuclear program is publicly stated to 'uphold the highest standards of nuclear safety and nonproliferation.'
Iran's Revolutionary Guard directly contradicted US claims on July 23, 2026, stating it had stopped three oil tankers from passing through the Strait of Hormuz and asserting the strait is 'under our control,' warning that any ship passing without coordination 'will suffer the same fate.' This follows Iran's July 14, 2026, announcement that the Strait of Hormuz was closed to all maritime traffic. Iran has reportedly targeted tankers using the Omani coast route, attempting to strong-arm vessels into using its own waters and paying for safe passage. Iran's parliament speaker and lead negotiator issued a stark economic threat: if Iran is unable to sell its oil, no other country in the region will be able to do so. The Iranian foreign ministry declared the latest US strikes rendered the April 8 ceasefire 'meaningless' and warned of 'highly dangerous consequences' from further escalation.
### Verification
The text presents direct contradictions regarding the status of the Strait of Hormuz. US Central Command (CENTCOM) asserted on July 23, 2026, that 'Iran does not control the Strait of Hormuz' and that the international waterway 'remains open for passage, despite threats from the Revolutionary Guards and their attacks.' This was reinforced by CENTCOM's social media. Conversely, Iran's Revolutionary Guard stated on the same date, July 23, 2026, that it had stopped three oil tankers, claiming the strait is 'under our control' and warning of consequences for uncoordinated passage. Iran also announced on July 14, 2026, that the Strait of Hormuz was closed to all maritime traffic. These conflicting official statements highlight a core point of contention requiring verification.
### Supplement
Historical critiques of US policy highlight systemic failures: the Obama administration's concessions allegedly failed to moderate the Iranian regime, while the Trump administration's pressure failed to permanently stop it, resulting in an unstable Middle East and a more complex nuclear challenge. Critics of the 2015 Iran nuclear deal (JCPOA) claimed its inspection regime was insufficient, allowing up to 24 days to resolve access disputes, potentially enabling covert nuclear advancement. A letter signed by 190 former generals and admirals in August 2015 opposed the JCPOA, citing limited IAEA access and the provision of $150 billion in sanctions relief that could fund proxy groups. The US military presence in the Persian Gulf, dating back to the end of WW2, is also criticized for transforming host states into 'exposed forward positions' that 'import conflict,' narrowing diplomatic maneuver and inviting retaliation, reflecting 'institutional inertia rather than strategic effectiveness.'
The Iranian regime, having survived the assassination of its top leaders and weeks of intense bombing by the US and Israel, is perceived by some as 'more emboldened and with greater leverage,' realizing it could hold the world's economy hostage by disrupting shipments of oil, liquefied gas, and agricultural products. The Houthi rebel group's July 23, 2026, claim of attacking two oil tankers, the Encelia and Layla, in the Red Sea, following threats of a maritime blockade against Saudi Arabia, elevates the threat of a second chokehold on global oil supplies in coordination with Iran's actions. This conflict has escalated to attacks on desalination facilities, raising the prospect of water shortages and threatening civilian infrastructure.
Unverified Claim: Iran denied harboring a secret nuclear complex at Mount Kolang after President Trump threatened to strike the site. Interested Party Assertion: Some Iranian officials denied agreeing to US inspection requirements for nuclear enrichment facilities, potentially to appease hardliners. The broader US-Iran conflict has demonstrably depleted global stockpiles, stoked inflation worldwide, and led to a 'global fuel crisis.' The tragic deaths of two American service members in Jordan, followed by eight consecutive nights of US retaliatory airstrikes across Iran, brought the Middle East to a critical junction. The US has widened its strikes to include bridges, electrical infrastructure, and, according to Tehran, the unfinished Darkhovin nuclear power site, while Iran has attacked US bases and critical infrastructure across Jordan and the Persian Gulf. The US-Saudi nuclear deal has elicited surprise and immediate concern in Washington and Israel, with experts questioning concessions made regarding future inspections of suspected nuclear activities.
### Evidence
* '30% of the world's seaborne-traded crude oil passes daily' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Strait of Hormuz 'largely blocked by Iran since February 28, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Prior to conflict, strait facilitated 'approximately 25% of the world's seaborne oil trade and 20% of its liquefied natural gas (LNG)' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US blockade on Iranian ports from 'April 13 to May 29, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Brent Crude touching '$95 a barrel on July 22, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* '$20 increase since attacks resumed on July 7' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Brent crude rose 'nearly 5% to above $95/bbl' on July 22, 2026 - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US crude climbed 'over 4% to above $88/bbl' on July 22, 2026 - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Oil prices risen 'approximately 30% since the start of July 2026' and 'more than 55% year to date' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Iraq lost 'over $40 billion in revenue' from 'pre-war exports of 3.5 million barrels per day' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* American consumers paid 'over $68 billion in extra costs for gas and diesel since the war began' as of 'July 14, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Averaging 'more than $500 per household' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Gas and diesel prices 'about 30% higher than before the war', with regular gasoline at '$3.86 per gallon on July 14, 2026, compared to $2.98 on February 27, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Two-week ceasefire on 'April 7, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Interim deal mediated by Pakistan on 'June 14, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Deal declared 'over' by President Donald Trump on 'July 8, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Trump administration revoked waiver on 'July 9, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US carried out '12th consecutive night of strikes on Iran on July 23, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* CENTCOM reported Iran attacked 'more than 30 commercial ships transiting the Strait of Hormuz' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Conflict cost US an estimated '$37.5 billion so far' as of 'July 22, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* '17 US service members killed and approximately 430 wounded' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* CENTCOM stated on 'July 23, 2026,' that 'Iran does not control the Strait of Hormuz' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US military facilities: 'Fifth Fleet headquarters in Bahrain', 'Al Udeid Air Base in Qatar', 'Camp Arifjan in Kuwait' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Letter signed by '190 former generals and admirals in August 2015' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* '$150 billion in sanctions relief' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Houthi rebel group's 'July 23, 2026, claim of attacking two oil tankers, the Encelia and Layla, in the Red Sea' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* 'Two American service members in Jordan' deaths - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Iranian foreign ministry declared 'April 8 ceasefire 'meaningless'' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
Iran's Hormuz Blockade vs. US 'Open' Claim Ignites Global Fuel Crisis, $68B US Consumer Cost
### Summary
The Strait of Hormuz, vital for 30% of global seaborne crude oil, has been largely blocked by Iran since February 28, 2026, following US-Israeli airstrikes. This has triggered a surge in oil prices, with Brent Crude hitting $95 a barrel, and cost American consumers over $68 billion in extra fuel expenses. Despite US military assertions that the strait remains open, Iran's Revolutionary Guard claims control and has actively enforced blockades, leading to escalating military and economic confrontation.
### Body
The Strait of Hormuz, a critical maritime chokepoint through which 30% of the world's seaborne-traded crude oil passes daily, has been largely blocked by Iran since February 28, 2026, following US-Israeli air strikes on Iran. Prior to this conflict, the strait facilitated approximately 25% of the world's seaborne oil trade and 20% of its liquefied natural gas (LNG). Iran's Revolutionary Guard Corps (IRGC) has actively enforced this blockade through warnings, boarding and attacking merchant ships, and deploying sea mines. Concurrently, the US imposed its own blockade on Iranian ports from April 13 to May 29, 2026.
The economic fallout is stark: oil prices surged, with Brent Crude touching $95 a barrel on July 22, 2026, marking a $20 increase since attacks resumed on July 7. Brent crude rose nearly 5% to above $95/bbl on that date, its highest in almost six weeks, while US crude climbed over 4% to above $88/bbl. Overall, oil prices have risen approximately 30% since the start of July 2026 and more than 55% year to date, reversing declines seen after a mid-June memorandum of understanding (MOU). The conflict has choked off shipments, leading to production cuts in oil-producing nations like Iraq, which lost over $40 billion in revenue from its pre-war exports of 3.5 million barrels per day mostly via Hormuz. American consumers have borne a significant burden, paying over $68 billion in extra costs for gas and diesel since the war began as of July 14, 2026, averaging more than $500 per household. Gas and diesel prices are about 30% higher than before the war, with regular gasoline at $3.86 per gallon on July 14, 2026, compared to $2.98 on February 27, 2026.
Diplomatic efforts have repeatedly collapsed. A two-week ceasefire on April 7, 2026, saw intermittent hostilities. An interim deal mediated by Pakistan on June 14, 2026, which included reopening the Strait of Hormuz and a 60-day cessation of hostilities, was declared 'over' by President Donald Trump on July 8, 2026. The Trump administration subsequently revoked a waiver on July 9, 2026, that had allowed Iran to sell oil as part of the peace deal. Militarily, the US carried out its 12th consecutive night of strikes on Iran on July 23, 2026, while US Central Command (CENTCOM) reported Iran had attacked more than 30 commercial ships transiting the Strait of Hormuz over the past three months. The conflict has cost the US an estimated $37.5 billion so far as of July 22, 2026, with 17 US service members killed and approximately 430 wounded.
The US military maintains a steadfast public posture that the Strait of Hormuz remains open despite renewed Iranian attacks. US Central Command (CENTCOM) explicitly stated on July 23, 2026, that 'Iran does not control the Strait of Hormuz' and that the international waterway 'remains open for passage, despite threats from the Revolutionary Guards and their attacks.' This narrative is reinforced by CENTCOM's social media assertion that 'The international waterway remains open for transit regardless of IRGC threats and attacks. Commercial vessels continue to use the strait with US military support.' The US government characterizes its ongoing strikes, including the 12th straight night of operations against Iran on July 23, 2026, as a defensive response aimed at 'further degrad[ing] Iran's ability to attack civilian mariners and commercial vessels' by targeting 'maritime capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets.'
US Secretary of State Marco Rubio has publicly warned Asian leaders that Iran's demand to control and collect tolls in the Strait of Hormuz would not only threaten the world's economy but also establish a dangerous precedent, arguing that if a nation-state can control an international waterway and attack ships for non-payment, it could repeat elsewhere. This stance underscores the US military's long-standing presence in the Persian Gulf, dating back to the end of WW2, with stated objectives including enforcing UN sanctions, deterring regional aggressors, ensuring global energy prices do not spike, and protecting Gulf Arab nations' access to the waterway for oil exports. Major US military facilities, such as the Fifth Fleet headquarters in Bahrain, Al Udeid Air Base in Qatar, and Camp Arifjan in Kuwait, are presented as essential for maintaining regional security and stability. Furthermore, supporters of the Trump administration's current negotiations with Tehran frame an agreement as a pragmatic strategy to prevent escalation and slow Iran's nuclear progress, while the administration's agreement to work with Saudi Arabia on a civilian nuclear program is publicly stated to 'uphold the highest standards of nuclear safety and nonproliferation.'
Iran's Revolutionary Guard directly contradicted US claims on July 23, 2026, stating it had stopped three oil tankers from passing through the Strait of Hormuz and asserting the strait is 'under our control,' warning that any ship passing without coordination 'will suffer the same fate.' This follows Iran's July 14, 2026, announcement that the Strait of Hormuz was closed to all maritime traffic. Iran has reportedly targeted tankers using the Omani coast route, attempting to strong-arm vessels into using its own waters and paying for safe passage. Iran's parliament speaker and lead negotiator issued a stark economic threat: if Iran is unable to sell its oil, no other country in the region will be able to do so. The Iranian foreign ministry declared the latest US strikes rendered the April 8 ceasefire 'meaningless' and warned of 'highly dangerous consequences' from further escalation.
### Verification
The text presents direct contradictions regarding the status of the Strait of Hormuz. US Central Command (CENTCOM) asserted on July 23, 2026, that 'Iran does not control the Strait of Hormuz' and that the international waterway 'remains open for passage, despite threats from the Revolutionary Guards and their attacks.' This was reinforced by CENTCOM's social media. Conversely, Iran's Revolutionary Guard stated on the same date, July 23, 2026, that it had stopped three oil tankers, claiming the strait is 'under our control' and warning of consequences for uncoordinated passage. Iran also announced on July 14, 2026, that the Strait of Hormuz was closed to all maritime traffic. These conflicting official statements highlight a core point of contention requiring verification.
### Supplement
Historical critiques of US policy highlight systemic failures: the Obama administration's concessions allegedly failed to moderate the Iranian regime, while the Trump administration's pressure failed to permanently stop it, resulting in an unstable Middle East and a more complex nuclear challenge. Critics of the 2015 Iran nuclear deal (JCPOA) claimed its inspection regime was insufficient, allowing up to 24 days to resolve access disputes, potentially enabling covert nuclear advancement. A letter signed by 190 former generals and admirals in August 2015 opposed the JCPOA, citing limited IAEA access and the provision of $150 billion in sanctions relief that could fund proxy groups. The US military presence in the Persian Gulf, dating back to the end of WW2, is also criticized for transforming host states into 'exposed forward positions' that 'import conflict,' narrowing diplomatic maneuver and inviting retaliation, reflecting 'institutional inertia rather than strategic effectiveness.'
The Iranian regime, having survived the assassination of its top leaders and weeks of intense bombing by the US and Israel, is perceived by some as 'more emboldened and with greater leverage,' realizing it could hold the world's economy hostage by disrupting shipments of oil, liquefied gas, and agricultural products. The Houthi rebel group's July 23, 2026, claim of attacking two oil tankers, the Encelia and Layla, in the Red Sea, following threats of a maritime blockade against Saudi Arabia, elevates the threat of a second chokehold on global oil supplies in coordination with Iran's actions. This conflict has escalated to attacks on desalination facilities, raising the prospect of water shortages and threatening civilian infrastructure.
Unverified Claim: Iran denied harboring a secret nuclear complex at Mount Kolang after President Trump threatened to strike the site. Interested Party Assertion: Some Iranian officials denied agreeing to US inspection requirements for nuclear enrichment facilities, potentially to appease hardliners. The broader US-Iran conflict has demonstrably depleted global stockpiles, stoked inflation worldwide, and led to a 'global fuel crisis.' The tragic deaths of two American service members in Jordan, followed by eight consecutive nights of US retaliatory airstrikes across Iran, brought the Middle East to a critical junction. The US has widened its strikes to include bridges, electrical infrastructure, and, according to Tehran, the unfinished Darkhovin nuclear power site, while Iran has attacked US bases and critical infrastructure across Jordan and the Persian Gulf. The US-Saudi nuclear deal has elicited surprise and immediate concern in Washington and Israel, with experts questioning concessions made regarding future inspections of suspected nuclear activities.
### Evidence
* '30% of the world's seaborne-traded crude oil passes daily' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Strait of Hormuz 'largely blocked by Iran since February 28, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Prior to conflict, strait facilitated 'approximately 25% of the world's seaborne oil trade and 20% of its liquefied natural gas (LNG)' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US blockade on Iranian ports from 'April 13 to May 29, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Brent Crude touching '$95 a barrel on July 22, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* '$20 increase since attacks resumed on July 7' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Brent crude rose 'nearly 5% to above $95/bbl' on July 22, 2026 - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US crude climbed 'over 4% to above $88/bbl' on July 22, 2026 - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Oil prices risen 'approximately 30% since the start of July 2026' and 'more than 55% year to date' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Iraq lost 'over $40 billion in revenue' from 'pre-war exports of 3.5 million barrels per day' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* American consumers paid 'over $68 billion in extra costs for gas and diesel since the war began' as of 'July 14, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Averaging 'more than $500 per household' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Gas and diesel prices 'about 30% higher than before the war', with regular gasoline at '$3.86 per gallon on July 14, 2026, compared to $2.98 on February 27, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Two-week ceasefire on 'April 7, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Interim deal mediated by Pakistan on 'June 14, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Deal declared 'over' by President Donald Trump on 'July 8, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Trump administration revoked waiver on 'July 9, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US carried out '12th consecutive night of strikes on Iran on July 23, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* CENTCOM reported Iran attacked 'more than 30 commercial ships transiting the Strait of Hormuz' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Conflict cost US an estimated '$37.5 billion so far' as of 'July 22, 2026' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* '17 US service members killed and approximately 430 wounded' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* CENTCOM stated on 'July 23, 2026,' that 'Iran does not control the Strait of Hormuz' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* US military facilities: 'Fifth Fleet headquarters in Bahrain', 'Al Udeid Air Base in Qatar', 'Camp Arifjan in Kuwait' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Letter signed by '190 former generals and admirals in August 2015' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* '$150 billion in sanctions relief' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Houthi rebel group's 'July 23, 2026, claim of attacking two oil tankers, the Encelia and Layla, in the Red Sea' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* 'Two American service members in Jordan' deaths - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/
* Iranian foreign ministry declared 'April 8 ceasefire 'meaningless'' - https://www.cbsnews.com/live-updates/iran-war-us-trump-strait-hormuz-oil-prices-red-sea-houthis/