Oil prices soar more than 9 per cent as the US president threatens to blockade the Strait of Hormuz.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: This blog is not intended as investment advice.PinnedTue 14 Jul 2026 at 8:29amTue 14 Jul 2026 at 8:29amMarket snapshotBy Emilia TerzonMarket snapshotASX 200 futures: -0.1%Australian dollar: flat to 69.19 US centsWall Street (Monday): S&P 500 -0.3%, Dow -0.8% Nasdaq -1.6%Europe (Monday): Dax +0.2%, FTSE flat, Eurostoxx flatSpot gold: +0.1% to $US4,011/ounceOil: Brent futures +9.6% to $US83.32/barrelBitcoin: -3.2% at $US62,109Prices current at around 8:30am AESTLive prices on the major ASX indices:Collapse all postsTue 14 Jul 2026 at 8:30amTue 14 Jul 2026 at 8:30amTech stocks drop on Wall StreetBy Emilia TerzonQuick whip around on global markets.We saw some big moves on Asian indexes yesterday afternoon as threats about blockading the Strait of Hormuz were starting.Europe had relatively subdued trading overnight, while Wall Street mostly showed negative trade on tech stocks.Some indexes:Wall Street (Monday): S&P 500 -0.3%, Dow -0.8% Nasdaq -1.6%Europe (Monday): Dax +0.2%, FTSE flat, Eurostoxx flatTue 14 Jul 2026 at 8:25amTue 14 Jul 2026 at 8:25amAccess to illegal cigarettes has 'never been easier'By Emilia TerzonI was commenting with Michael a while back on the illicit tobacco trade. Mike Lorigan from 7.30 has now written about the explosion in online availability. It’ s a looming disaster . With the Vic. Police arson squad boss and former ABF commissioner saying they can’t stop it , we need to get Albo, Chalmers and Butler on the line and get them back on planet earth pronto.- PhillipThanks for your comment. And yes, here is Mike's story.Tue 14 Jul 2026 at 8:20amTue 14 Jul 2026 at 8:20amMore on the latest Hormuz threatBy Emilia TerzonUS President Donald Trump says the US is reinstating its blockade of Iran in the Strait of Hormuz and will start charging for ships from elsewhere to transit through it.After weeks of insisting the strait must be toll-free, Mr Trump said he would impose charges "at the rate of 20% of all cargo shipped" in return for providing security.The resurgence of hostilities impacting one of the world's crucial oil shipping pipelines has sent crude prices soaring.Read more here.Tue 14 Jul 2026 at 8:09amTue 14 Jul 2026 at 8:09amBig super funds and SMSFs could compensate victims of financial misconductBy Emilia TerzonImportant report by my colleague Nassim Khadem today about the Compensation Scheme of Last Resort:Assistant Treasurer Daniel Mulino is looking to revamp funding for the CSLR, saying that large super funds, as well as people with self-managed super funds, could be asked to chip in.Mr Mulino told ABC News that, with more investors losing money through First Guardian, Shield and other high-profile cases, the CSLR was facing "huge pressure", far beyond what was originally anticipated when the scheme was established.Tue 14 Jul 2026 at 7:43amTue 14 Jul 2026 at 7:43amAussie dollar also drops on Hormuz blockadeBy Emilia TerzonThe local currency has dipped below 70 US cents.Here's a morning wrap from CBA's currency analysts:"AUD/USD dropped towards 0.6910 overnight as renewed concerns about energy supply disruption in the Strait of Hormuz weighed on risk sentiment and supported the USD. "The flare‑up of military confrontation between the US and Iran risks pulling AUD/USD down to support at 0.6847 (50% fibbo)." Their analysts note that inflation data due out in the US today could also have an impact on the Australian dollar.The dollar's currently at 69.17 US cents.Tue 14 Jul 2026 at 7:32amTue 14 Jul 2026 at 7:32amBrent future gain is biggest since 2020By Emilia TerzonMore on that spike in oil prices overnight:WTI surged 9.4% to $78.14 a barrel, its biggest single-day percentage gain since April 2, and Brent jumped 9.6% to $83.30, its sharpest one-day rise since May 5, 2020.Reporting with Reuters.Tue 14 Jul 2026 at 7:26amTue 14 Jul 2026 at 7:26amOil prices spike 9% as Trump threatens Hormuz blockadeBy Emilia TerzonGood morning. We've woken up in Australia to some significant news out of the White House, with Trump threatening a major blockade of the Strait of Hormuz.That's sent oil prices soaring 9% on both brent crude and West Texas indicators. That's after weeks of subdued pricing as hopes grew of an end to the war in the Middle East.More from Reuters:Brent futures posted their biggest single-day dollar gain since April 2 and highest settlement since June 12.US crude futures, meanwhile, made their largest daily gain since April 29 to settle at their highest since June 15.And here's the latest on the Strait of Hormuz.