US Seeks International Coalition to Reopen Strait of Hormuz Amid Crude Price Surge

The US is seeking international help to reopen the Strait of Hormuz as crude prices surge due to ongoing tensions between Iran and the US. The vital sea channel has been closed for two months, choking off 20% of global oil and gas supplies.

Oil prices have doubled since the US-Israeli attack on Iran began on February 28, with benchmark Brent crude hitting a four-year high of over $126 per barrel. The Strait's closure is causing concerns about an economic downturn due to increased fuel costs.

The US is planning to establish a Maritime Freedom Construct (MFC) coalition to enable ships to navigate the strait. The MFC would be a post-conflict maritime security architecture for the Middle East, according to a State Department cable seen by Reuters.