An Iranian military spokesperson said the strait would remain closed “long term” to the US and Israel.
European Union foreign policy chief Kaja Kallas rejected Tehran’s idea, saying Iran could not be allowed to charge countries to let ships pass. “International law doesn’t recognise pay-to-pass schemes,” she wrote on social media.
Benchmark Brent crude rose about 7% to around US$108 a barrel, US bond yields spiked, and global equity markets surrendered earlier gains.
“The key question in all investors’ minds is ‘When is this going to be over?’” said Russel Chesler, head of investments and capital markets at VanEck Australia.
In Wednesday’s speech, Trump also told countries that depend on fuel moving through the Strait of Hormuz to “just grab it”. European and other governments have said they would only help secure the passage if there is a ceasefire.
“It can only be done in consultation with Iran,” French President Emmanuel Macron said.
Iran’s armed forces answered with a warning that “more crushing, broader and more destructive” attacks were still to come.
The war will continue until the “permanent regret and surrender” of Iran’s enemies, Ebrahim Zolfaqari, spokesperson for the Iranian military’s Khatam al-Anbiya central headquarters, said in a statement carried by Iranian media.
Far later identified bridges in Saudi Arabia, Kuwait, Abu Dhabi and Jordan, all of which host US military bases, as possible Iranian targets in retaliation for the strike on the B1 bridge. The Revolutionary Guards also said they had targeted an Amazon cloud computing centre in Bahrain.
The conflict has fuelled fears that Iran could exert a stranglehold over Middle East energy supplies after showing it can block the Strait of Hormuz by targeting oil tankers and striking Gulf states that host US troops.
Gulf states say they reserve the right to self-defence, but they have stopped short of military retaliation despite repeated Iranian attacks over the past month, seeking to avoid a much wider Middle East war.
Iran’s parliament is reviewing a bill that would formally block vessels from hostile countries from using the strait and impose tolls on others that wish to pass, spokesperson Abbas Goodarzi said.
Across the Middle East, thousands have been killed and tens of thousands injured since the war began. The head of the International Federation of Red Cross and Red Crescent Societies delegation said on Thursday that medical needs were rising exponentially and supplies could begin to run low.
Sirens and interceptor blasts were heard over Jerusalem after the Israeli military said it had detected a missile launched from Yemen towards Israel.
Yemen’s Iran-aligned Houthis first claimed an attack on Israel at the end of March as the conflict with Iran spread further across the region.
Fuel shortages are already straining parts of Asia and are expected to hit Europe soon, while a report by two UN agencies warned that a sharp economic slowdown could trigger a cost-of-living crisis in Africa.
Reuters