Trump Pitches Hormuz Coalition as Oil Holds Near $111 Amid Mine Clearance Woes

The U.S. is pitching a new international coalition, including a Maritime Freedom Construct, to restore navigation in the Strait of Hormuz as disruptions persist with WLDOIL near $111/bbl after spiking to $120. Tensions surged from Iran's April 17 'open' declaration plunging prices 14.4% to $81.18/bbl, April 18 shutdown repelling 20 ships and striking a 2M-barrel VLCC, U.S. TOUSKA seizure on April 19-20 lifting prices 6% to $88.93/bbl, Pentagon's six-month mine clearance warning, and April 23 vessel attacks with fresh mines. Rerouting adds weeks to voyages, sustaining geopolitical risk premiums despite Trump's rejection of reopening without nuclear concessions.