Trump Urges Nations to Secure Hormuz Strait as Oil Prices Surge 40%

US President Donald Trump called on nations reliant on oil through the Strait of Hormuz to take responsibility for securing the passage, threatening military action against Iran. Global oil prices have surged 40% as Iran attacks Gulf facilities following US-Israeli strikes. Trump stated the US would help escort tankers but urged China, France, Japan, South Korea and Britain to send ships. The Strait of Hormuz, a vital oil route, has been disrupted by Iranian strikes. Nigeria, a major oil exporter, may face higher import costs and supply disruptions. The conflict could impact Nigeria's economy and energy security.

SOURCE: https://www.channelstv.com/2026/03/14/other-countries-must-take-care-of-hormuz-strait-says-trump/