Ships and tankers in the Strait of Hormuz, off the coast of Musandam, Oman. ReutersInfoUS President Donald Trump says he wants to charge vessels 20% tax to cross strait
Oil prices surged to a one-month high on Tuesday, with Brent crude rising 1.63% to $84.66 per barrel.
Brent recorded its biggest single-day gain since May 2020 on Monday, jumping 9.6% amid escalating US-Iran tensions.
Iran struck two UAE supertankers in the Strait of Hormuz on Tuesday, killing one sailor and injuring eight others.
President Donald Trump announced a 20 per cent tax on vessels crossing the strait under US naval supervision.
