Trump Weighs New Strikes on Iran as Global Oil Prices Spike Above $123

President Donald Trump is set to receive a briefing from U.S. Central Command leader Brad Cooper regarding plans for a "short and powerful" wave of military strikes targeting Iranian infrastructure. This development follows a period of escalating tension in the Strait of Hormuz, which the President recently referred to as the "Strait of Trump" in social media posts. The U.S. naval blockade has successfully diverted 41 tankers carrying 69 million barrels of oil, effectively preventing the Iranian regime from accessing over $6 billion in revenue. President Trump has urged Tehran to "get smart" and sign a non-nuclear deal, comparing the current economic pressure to "choking" the regime. The blockade has triggered significant volatility in global energy markets, with Brent crude climbing 4.5% to $123.30 per barrel on April 30. During an April 29 meeting with oil executives, President Trump discussed strategies to mitigate global energy disruptions while maintaining pressure on Iran. However, the strategy has drawn criticism from European allies; German Chancellor Friedrich Merz expressed concern over the economic "suffering" caused by the Hormuz closure. In response, Secretary of State Marco Rubio approved the Maritime Freedom Construct (MFC) to seek international coalition partners to restore navigation. Domestically, the costs of "Operation Epic Fury" have come under scrutiny. Pentagon acting comptroller Jules Hurst testified that the operation has cost roughly $25 billion since late February, primarily due to munitions expenditures. Defense Secretary Pete Hegseth defended the spending as a necessary measure to prevent Tehran from achieving nuclear capabilities. Meanwhile, the regional situation remains volatile as the Lebanese army reported the first Israeli strikes against its troops since the start of the current ceasefire, resulting in one fatality and two injuries.