The prices of diesel and gasoline soared after the Iran war started, piling more hardship on people in Ruatahuna, one of New Zealand’s most remote villages.
President Trump’s pendulum swings on Iran have often seemed driven by mood and moment rather than any discernible strategy.
President Trump held out hope for a peace agreement, but said high oil prices would not force his hand.
An agreement to reopen the waterway would be followed by a complicated process of navigating a backlog of vessels stranded for nearly three months.
As people across the Middle East braced for the possibility of renewed fighting, officials from both sides said there were signs that they were moving closer to an agreement.
Iran is trying to assert its control over the strait by charging for passage. Experts say it is unlikely to happen, but the threat has unsettled the shipping industry.
Pakistan and Qatar have dispatched teams to Iran under the looming threat of resumed war, after weeks of diplomacy failed to produce an agreement.
The warning was issued as President Trump and Vice President JD Vance say progress is being made toward a deal, while keeping open the threat of renewed strikes.
Outmatched militarily, Iran used “triangular coercion” by attacking Gulf states and closing the Strait of Hormuz. It points to a long-term U.S. vulnerability.
Outmatched militarily, Iran used “triangular coercion” by attacking Gulf states and closing the Strait of Hormuz. It points to a long-term U.S. vulnerability.