Brent Rises 10% as Trump Reinstates Iran Blockade, Proposes 20% Hormuz Cargo Charge According to Bloomberg, U.S. President Donald Trump rei…
Brent Rises 10% as Trump Reinstates Iran Blockade, Proposes 20% Hormuz Cargo Charge
According to Bloomberg, U.S. President Donald Trump reinstated a blockade on vessels entering or leaving Iranian ports and proposed a 20% charge on cargo carried by other vessels through the Strait of Hormuz. U.S. Central Command said enforcement would begin at 4 p.m. New York time on July 14, as U.S. forces launched a third consecutive night of strikes on Iran. Brent crude rose about 10% to around $83.63 a barrel.
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