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Home›Commodities›Energy›Oil prices push above $80 a barrel after Strait of Hor…

Oil prices push above $80 a barrel after Strait of Hormuz move

MarketWatch says Trump reimposed a naval blockade on the Strait of Hormuz and introduced a 20% fee tied to cargo shipped through it.

Reported · Written up by our desk · Energy

Global oil prices rose above $80 a barrel after President Donald Trump reimposed a naval blockade on the Strait of Hormuz, according to MarketWatch.

The outlet said the policy move is driving fresh spikes at the start of the week.

MarketWatch also linked the increase to a 20% fee for cargo shipped through the waterway.

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Sources

MarketWatchGlobal oil prices top $80 a barrel after Trump reimposes Strait of Hormuz blockade and charges 20% fee for cargo shipped through
MarketWatchGlobal oil prices top $80 a barrel after Trump reimposes Strait of Hormuz blockade and charges 20% fee for cargo shipped through

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