S&P 5007,515.34▼0.8% Nasdaq25,873.18▼1.6% Dow52,498.64▼0.3% Russell 2K2,953.17▼0.8% 10-Yr4.61%+4bp VIX17.16+2.13 WTI$78.04▲9.3% Gold$4,011.00▼2.3% EUR/USD1.139▼0.4% BTC$64,752▲4.0% Nikkei68,558▲1.2%
At close · Mon, Jul 13, 2026
Daily Market Updates.

Global Markets

Home›Global Markets›Trade & Tariffs›Oil prices give up gains after Trump drops 20% Hormuz…

Oil prices give up gains after Trump drops 20% Hormuz fee plan

U.S. President Donald Trump said he would not move forward with the proposed 20% shipping fee for vessels transiting the Strait of Hormuz, reversing earlier price strength reported by CNBC.

Reported · Written up by our desk · Trade & Tariffs

CNBC Markets reported that oil prices climbed earlier in the day after President Donald Trump announced plans to impose shipping fees for traffic through the Strait of Hormuz.

Later, CNBC World said oil prices gave up those gains after Trump abandoned the proposed 20% fee plan, shifting expectations around the potential impact on shipping costs for the key waterway.

← Newer storyBitcoin mining production fell in June for CleanSpark, BitFuFu and Ca…

More like this

Global MarketsChina recovers Long March-10B booster using giant net at sea
Global MarketsInflation cools to 3.5% in June as energy prices ease
Global MarketsNorwegian tanker reported hit by explosion off Omani coast
Global MarketsEU trade official flags emergency curbs to address China export surge
Global MarketsHong Kong gazettes law for joint immigration checks at Shenzhen crossing

Sources

CNBC MarketsOil gives up gain after Trump abandons 20% fee on Strait of Hormuz traffic
CNBC WorldOil gives up gain after Trump abandons 20% fee on Strait of Hormuz traffic

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.