President Donald Trump has announced an intensification of U.S. military strikes against Iran over the next two to three weeks, stating that current operations have met or exceeded expectations. He warned that the campaign would hit Iran 'very hard,' signaling potential further escalation.

Escalation and Warnings

Trump did not address the possibility of negotiations or revisit his previous April 6 deadline regarding the reopening of the Strait of Hormuz, a vital route for global oil shipments. He offered no specific plans to address potential supply disruptions or stabilize rising energy costs, nor did he mention deploying ground troops or collaborating with NATO allies.

Market Impact

Financial markets reacted swiftly to Trump’s statements. Brent crude oil prices surpassed $106 per barrel, and U.S. crude exceeded $104. Gas prices in the United States have risen above $4 a gallon for the first time since 2022, raising concerns about broader economic impacts and inflation.

Strait of Hormuz Discussions

International discussions concerning the situation in the Strait of Hormuz are ongoing. A virtual meeting involving 35 countries, hosted by U.K. Foreign Secretary Yvette Cooper, focused on political measures to reopen the Strait and potential security protocols. The United States did not participate in this meeting.

Shipping Disruptions

Shipping traffic through the Strait of Hormuz has decreased by 94% over the past month, following several attacks on commercial ships by Iran. Despite concerns about continued restrictions, no country is currently planning forceful action to reopen the waterway. Cooper accused Iran of 'holding the world's economy hostage'.

International Reactions

French President Emmanuel Macron criticized the U.S. for initiating military actions without consulting its allies, stating the U.S. 'can hardly complain afterward that they are not being supported in an operation they chose to undertake alone.' He stressed the importance of alliance commitments and a swift return to peace.

Iranian Response

Mohammad Bagher Qalibaf, Iran's parliament speaker, claimed a large number of Iranian citizens are prepared to defend the country. Iranian state media and text message campaigns are encouraging military enlistment, with the Revolutionary Guard's Basii force accepting recruits as young as 12. Iran’s army chief, Maj. Gen. Amir Hatami, warned that no one would survive a U.S. invasion.

Trump's Address and Long-Term Conflict

Trump’s prime-time address reiterated his commitment to 'finish the job' in Iran and emphasized the completion of strategic objectives. He noted the conflict has been ongoing for nearly five decades, contributing to rising energy prices and pressure on his administration to find a resolution. Public opinion polls suggest a significant portion of Americans believe the U.S. military has gone too far in Iran.