The strikes by Iran and the attacks and re-imposition of sanctions by the U.S. came weeks after the countries agreed to try to find a lasting end to their hostilities.

The attack, confirmed by U.S. and Iranian officials, came after Tehran threatened to disrupt shipping in the waterway and as Washington sought regional support for its peace agreement.

Statements from President Trump and Iran aimed to raise confidence in the safety of the waterway, but shipping experts said risks remained.

More than a dozen U.S. Navy warships are enforcing a blockade on all vessels from all nations entering or leaving coastal areas or ports in Iran.

The vessels exited the Strait of Hormuz on Monday, hours before a U.S. naval blockade took effect.

Tehran has effectively closed off the critical waterway, turning back container ships on Friday, and Iranian lawmakers are considering whether to formalize charging fees to pass.

Stopping Iran’s production of drones is critical to opening the Strait of Hormuz and halting its attacks on Gulf nations. But can it be done?

Ships with no ties to Israel or the United States would be allowed to pass, the government said, but it was unclear if any vessels would try.

Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.

Governments have stockpiled oil, and cars are more efficient but the supply shock is global, and there’s no sense of when it’ll end.