The conflict with Iran has disrupted global energy markets despite Trump's claims of US energy independence, with gasoline prices surging above $4 per gallon for the first time in four years. Iran's control over the Strait of Hormuz continues to block tanker traffic and impose tolls, keeping oil prices elevated through at least year-end. Critical energy infrastructure like Qatar's LNG terminal has sustained severe damage that could impact operations for years.
Background
The Strait of Hormuz is a critical chokepoint for global oil transportation, with about 20% of the world's oil and LNG passing through it. US energy dominance policies have focused on increasing domestic production to reduce reliance on foreign oil.
- Source
- Ars Technica
- Published
- Apr 12, 2026 at 07:17 PM
- Score
- 6.0 / 10