Trump touts 59% approval as oil jumps after Iran-related escalation

Renewed fighting between the United States and Iran after attacks on commercial vessels near the Strait of Hormuz kept oil elevated, hurt broader risk sentiment and sharpened political and economic risks for President Donald Trump. Trump said the U.S. would be known as "THE GUARDIAN OF THE HORMUZ STRAIT" and would seek reimbursement at a 20% rate on all cargo shipped through the waterway, a proposal the U.N.'s maritime agency said had no legal basis. U.S. Central Command said it completed another five-hour mission striking targets across Iran, marking a third consecutive night of attacks in retaliation for strikes on commercial shipping in the strait. Jordan said it intercepted four missiles that entered its airspace from Iran, while sirens sounded again in Bahrain. Ukraine and its allies also announced an air-defense coalition in Paris aimed at countering Russia's ballistic missile threat, underscoring the wider geopolitical strain. Chinese exports rose at their fastest pace since 2021 in June, helped by demand for AI hardware and efforts by U.S. retailers to front-run expected tariffs. Economists meanwhile expected U.S. consumer prices to fall 0.2% in June after a 25% plunge in energy prices, while core CPI was seen rising 0.2% on the month and 2.8% on the year, still above the Federal Reserve's 2% target. Trump separately promoted a 59% approval rating that other polling trackers cited in the source material did not support.