The United States is pushing for other countries to form an international coalition to restore freedom of navigation in the Strait of Hormuz, according to a State Department cable, as oil prices surged to their highest in more than four years on fears of longer-term disruptions to global fuel supplies.

Two months into a stalemate that started with US-Israeli strikes on Iran, the vital sea channel remains closed, choking off 20 percent of the world's supplies of oil and gas. That has sent global energy prices ⁠surging and heightened concerns about the risks of an economic downturn.

Efforts to resolve the conflict have hit an impasse, which the United States is trying to unlock with a naval blockade of Iran's oil exports, the country's economic lifeline.

With talks stalled, US President Donald Trump is slated to receive a briefing on Thursday on plans for a series of fresh military strikes on Iran in hopes it will return to negotiations, according to an Axios report late on Wednesday.

That spurred big gains in oil prices, with the benchmark Brent crude contract topping US$125 a barrel at one point, partly on technical factors related to the expiry of the contract later on Thursday.

Since the start of the year, Brent prices have more than doubled, rising on Thursday to their highest since March 2022, fuelling inflation and sending pump prices to politically painful levels worldwide.

Iran has pledged to continue disrupting traffic through the Strait as long as it is threatened, which may mean more Middle East oil supply disruptions from a conflict that has killed thousands.

Tehran warned on Wednesday of "unprecedented military action" against continued US blockading of Iran-linked vessels. Trump has said Iran cannot have a nuclear weapon, while Tehran says its nuclear ambitions are peaceful.

The State Department cable said the United States was inviting other countries to join a new international coalition that would enable ships to navigate the Strait of ‌Hormuz after traffic through the waterway stalled.

The proposed coalition, dubbed the "Maritime Freedom Construct", would share information, co-ordinate diplomatically and help enforce sanctions, the cable showed.

France, Britain and other countries have held talks on contributing to such a coalition but said they ⁠were only willing to help open the Strait after hostilities cease.

Iran wants US acknowledgment of its right to enrich uranium for what it says are peaceful, civilian purposes. It has a stockpile of about 440 kilograms of uranium enriched to 60 percent, which could be used for several nuclear weapons if further enriched.

Iran's latest offer for resolving the war, suspended since April 8 under a ceasefire ⁠deal, would set aside discussion ‌of its nuclear program until the conflict is formally ended and shipping issues resolved.

That did not meet Trump's demand to tackle the nuclear issue at the ‌outset.

The Pakistani source said the United States had shared "observations" on the Iranian proposal and it was now up to Iran to respond.

"[The] Iranians asked for time till the end of the week," the source said.

Meanwhile, Trump faces domestic pressure to end a war for which he has given shifting rationales to a US public struggling with surging gasoline prices.

His approval rating fell to the lowest of his current term, a poll showed. (Reuters)



Edited by Thomas McAlinden