US President Donald Trump says he wants to charge vessels 20% tax to cross strait

Iran attacked vessels in the Strait of Hormuz, causing oil prices to rise. WTI reaching $110 in July 2026 at 1.2% YES.

Crude oil prices soared nearly 5% on July 13, with Brent nearing $80 per barrel, as escalating US-Iran strikes fueled market volatility and supply concerns.

Brent surges more than 4 per cent as US-Iran conflict escalates

Oil prices climbed to their highest level in four weeks on Tuesday after the United States reinstated a naval blockade on Iran and intensified military strikes, while Tehran…