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Home›Commodities›Energy›Oil rises as U.S. plans Strait of Hormuz shipping fees

Oil rises as U.S. plans Strait of Hormuz shipping fees

The increase follows Trump’s plan to impose shipping fees through the Strait of Hormuz after new U.S. Iran airstrikes were announced.

Reported · Written up by our desk · Energy

Oil prices rose on Tuesday after U.S. President Donald Trump announced plans to impose shipping fees in the Strait of Hormuz, a key chokepoint for global crude flows.

CNBC Markets reports the move came after the U.S. launched new airstrikes against Iran.

A second CNBC outlet also linked Tuesday’s price gains to the same decision on Strait of Hormuz shipping fees.

The reports frame the developments as a fresh reminder of how U.S. actions in the region can affect energy markets.

Latest closeWTI crude $78.04 ▲9.3%

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Sources

CNBC MarketsOil prices rise as U.S. launches new Iran airstrikes, while Trump abandons Strait of Hormuz fee
CNBC WorldOil prices rise as U.S. launches new Iran airstrikes, while Trump abandons Strait of Hormuz fee

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