What did Trump say about the US response to Iran's recent attack, and what immediate market impact followed?

Trump said in a Fox News phone interview, 'We’ll be hitting them hard,' and added, 'they’re going to get a beating,' following Iran’s attack on a military base in Jordan. The comments coincided with a halt in the US-Iran strike pause and triggered a surge in oil prices, sending Brent crude up about 7% to over $90 a barrel on Wednesday.

Why has the Strait of Hormuz remained effectively closed, and what diplomatic effort recently failed to reopen it?

The Strait of Hormuz remains effectively shut because 'hardly any ships [are] traveling through — at least with their transponders on,' and Iran’s IRGC claimed to have 'struck and brought to a halt' three tankers moving along an 'unsafe and illegal route.' Talks between Iran and Oman to restore shipping traffic faltered after Iranian negotiators rejected an Omani proposal for jointly controlled passage, with Iran’s Deputy Foreign Minister Kazem Gharibabadi stating Tehran demands 'sole control over vessels coming into the Persian Gulf.'

Trump Says US Will Strike Iran Hard as War Escalates Again

Jul 29, 2026

President Trump threatened severe strikes against Iran after attacks on US bases and Saudi oil facilities drove Brent crude above $90 per barrel. Escalating tensions now threaten the Strait of Hormuz, risking disruptions to global energy and commodity flows.

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