Trump reimposes naval blockade on Strait of Hormuz, sending Brent crude past $85. Here's what it means for oil prices, inflation, and crypto markets.

Trump says the U.S. “will be reimbursed” for helping ships through the Strait of Hormuz. The international oil benchmark, Brent, surpassed $80 per barrel.

Iran says it will not allow Washington to intervene in the Strait of Hormuz

Trump reinstates the Hormuz blockade as oil prices rise above $79. WTI reaching $110 by July 2026 at 2.6% YES.