New Delhi, July 14 -- The US struck Iran early Tuesday morning, hours after US President Donald Trump announced that the country will reinstate its blockade on Tehran in the Strait of Hormuz.

The announcement comes in the wake of renewed strikes on tankers in the Strait. Trump announced that he was reinstating the blockade of Iranian shipping in the Persian Gulf and that he would ensure that the strategic waterway of the Strait of Hormuz remains open, albeit for a fee.

Oil prices rose 2% on Tuesday to their highest in four weeks, as the US reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows.

Brent crude futures were up $1.68, or 2%, to $84.9...