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Oil markets brace for Strait of Hormuz blockade and 20% toll charge

CNBC World reports President Trump revived a naval blockade in the Strait of Hormuz and is seeking a 20% toll charge, adding supply and cost risk to oil flows.

Reported · Written up by our desk · Energy

Oil markets are reacting to reports that a naval blockade in the Strait of Hormuz has been revived, raising concerns about disruptions to a key shipping chokepoint, according to CNBC World.

CNBC World also said President Trump is demanding a 20% toll charge tied to the policy, which could further affect shipping costs and the economics of crude deliveries.

The developments are expected to keep risk premiums elevated as traders weigh the potential impact on supply routes through the Strait of Hormuz.

Latest closeWTI crude $78.04 ▲9.3%

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