Iran denied that the American destroyers had entered the strait, as negotiations for an extended cease-fire continued in Islamabad.
An association of airports told European Union officials that fuel shipments through the Strait of Hormuz had to restart within three weeks to avoid a “systemic” shortage.
The interconnectedness of global energy markets means that the effects of Iran’s blockade of the waterway are not limited to countries directly dependent on oil from the Middle East.
The effects of the war in Iran are squeezing consumers, businesses and governments around the world, raising the prices of many essential goods.
The U.S. and other exporters are poised for a windfall, but disruptions to Persian Gulf supplies are also pushing gas-buying countries to consider alternatives like coal, solar and nuclear energy.
Republicans and Democrats alike have criticized the Trump administration’s moves, taken to stabilize oil markets rocked by the war with Iran, warning that it is benefiting two U.S. adversaries.
A gallon has climbed to nearly $6 in the state, about $2 above the national average.
Fatih Birol, the leader of the International Energy Agency, said the Iran war was a bigger crisis than the two oil shocks in the 1970s combined.
Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists.