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US President Donald Trump's administration scrambled Wednesday to rein in surging energy costs from war in the Middle East, temporarily waiving a century-old shipping law and easing Venezuela sanctions. The moves came after oil prices rocketed following US-Israeli strikes on Iran on February 28. Tehran's retaliation brought commercial shipping through the Strait of Hormuz to a virtual halt, snarling energy supply chains. Around a fifth of global crude oil and liquefied natural gas pass through the critical waterway during peacetime.

Nato allies are ‘working collectively’ to reopen the Strait of Hormuz, says Rutte Nato allies are discussing how they can get the Strait of Hormuz reopened, Nato Secretary General Mark Rutte told reporters during a visit to Norway. “We all agree, of course, that trade has to open up again. And what I know is that allies are working together, discussing how to do that. They’re working on that collectively, to find a way forward,” Rutte said. This comes after comments from French President Emmanuel Macron on Tuesday that France will never take part in operations to unblock the Strait of Hormuz.

Ship traffic in Strait of Hormuz has plunged. The White House response keeps shifting.  Yahoo Finance

Donald Trump calls on allies to ‘get a grip’ and help reopen Strait of Hormuz  The Jerusalem Post

DUBAI, March 18 (Reuters) - Facilities belonging to Iran's oil industry in South Pars and Asaluyeh were attacked on Wednesday, Iranian state media said, prompting Tehran to warn that it would target energy installations across Saudi Arabia, the United Arab Emirates and Qatar. Oil prices jumped on the news, with Brent crude futures gaining more than 6% to a session high just shy of $110 per barrel. Analysts have warned that any attack in South Pars would raise the possibility of retaliatory attacks by Iran on Gulf energy facilities including those belonging to oil majors in Qatar.

Star Bulk ship hit by Iran makes it through Strait of Hormuz  Tradewinds News

Strait of Hormuz becomes key front as US weighs response  The Jerusalem Post

NATO allies in talks on ‘best way’ to reopen Strait of Hormuz following Trump demands  The Times of Israel

Closure of the Strait of Hormuz is not a distant concern  Korea JoongAng Daily

The battle for the Strait of Hormuz  New Statesman

90 Ships Keep Crossing Strait of Hormuz Despite Iran War Escalating  Altitudes Magazine

NATO heavyweights balk at Hormuz mission as Trump warns alliance at risk  Fox News

Iran Is Mining the Strait of Hormuz — and the Only Two U.S. Navy Ships Built to Sweep Those Mines Were Just Spotted Thousands of Miles Away in Asia  19FortyFive

Choke on Strait of Hormuz hurts many nations, US is not one of them - in fact it profits  The Times of India

Emirati presidential adviser Anwar Gargash says 'more channels will open' between Israel and Arab countries it doesn't have ties with, in the wake of incessant Iranian strikes The post Senior UAE official says Iranian attacks will drive Gulf countries into Israeli arms appeared first on The Times of Israel.

Evacuations were ordered shortly after Iranian oil facilities in South Pars and Asaluyeh came under attack

White House reports 7,800 Iranian targets struck as allies hesitate on Strait of Hormuz  Fox News

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Oil and gas prices have been driven up as Iran has throttled key shipping routes through the Strait of Hormuz.

Trump fumes at NATO after no help in Hormuz Strait, floats withdrawal | RISING  The Hill