Iran Threatens to Block Trade Routes Amid US Strikes

15.07.2026 · By Bernal Fintech Markets Desk

Iran has threatened to block more trade routes in response to renewed US military strikes, escalating tensions in the Middle East. The US has launched fresh attacks on Iran, with President Donald Trump warning of further strikes on bridges and power plants unless Iran returns to negotiations. This comes as the two countries have exchanged fire for a fifth consecutive day, with the US reimposing a blockade on Iranian ports and ships.

According to reports, Iran has shut the Strait of Hormuz and carried out retaliatory airstrikes on countries hosting US military bases in the region. The US Fifth Fleet in Bahrain was reportedly targeted in the latest exchange of strikes. Trump’s comments were made as the US resumed its blockade of Iranian ports, prompting Iran to threaten to halt all Middle East energy exports.

Escalating Conflict

The situation has intensified as both sides continue to exchange fire, with the US launching missile strikes and Iran retaliating with airstrikes. The US has vowed to strike Iran’s bridges and power plants next week if the country does not return to talks. Analysts warn that the conflict risks becoming a ‘forever war’ if Iran fails to cooperate with the US.

Iran’s threats to block trade routes and halt energy exports have raised concerns about the stability of global oil markets. The US blockade of Iranian ports has already led to a surge in oil prices, with economists warning that resurgent oil and fuel prices could lead to a fourth interest rate rise in Australia this year if the conflict is not resolved within a week.

What it means for markets

The ongoing conflict between the US and Iran has significant implications for global markets, particularly in the energy sector. The threat of disrupted trade routes and energy exports has already driven oil prices to their highest level in a month, adding pressure on central banks to consider further rate hikes.