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At close · Mon, Jul 13, 2026
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Home›Commodities›Energy›U.S. crude rises above $80 on renewed Strait of Hormuz…

U.S. crude rises above $80 on renewed Strait of Hormuz supply fears

The move follows Donald Trump plans for shipping fees in the Strait of Hormuz, raising the risk of tighter oil flows if tensions worsen.

Reported · Written up by our desk · Energy

Oil prices climbed on Tuesday, with U.S. crude moving above $80 amid renewed fears over shipping disruptions in the Strait of Hormuz.

CNBC Markets and CNBC World linked the jump to a U.S. plan announced by President Donald Trump to impose shipping fees through the strategic waterway, which traders view as a potential catalyst for supply risk.

The reports also pointed to rising uncertainty after an Iran ceasefire reportedly fractured, adding to concerns that regional instability could affect tanker traffic and crude deliveries.

Latest closeWTI crude $78.04 ▲9.3%

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Sources

CNBC MarketsU.S. crude jumps above $80 as Iran ceasefire fractures; Trump's Hormuz toll plans reignite supply fears
CNBC WorldU.S. crude jumps above $80 as Iran ceasefire fractures; Trump's Hormuz toll plans reignite supply fears

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