…
Business
Trump imposes Iranian blockade in Strait of Hormuz and 20% fee on oil transit
Herz — Business Desk · · 30s summary · 3 min read
The essentials
On July 13, 2026, President Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz—the world's most critical oil passage—and imposed a 20% fee on all other cargo moving through the chokepoint, totaling roughly $30 million per supertanker. Oil prices jumped over 9% in a single trading session, the largest one-day gain since April 2026. West Texas Intermediate (WTI) crude reached approximately $79 per barrel, while Brent closed above $83 per barrel. The measures coincide with a third consecutive night of U.S. military strikes against Iran.
- Trump reimposed blockade on Iranian ships in Strait of Hormuz.
- 20% fee on other cargo—roughly $30 million per supertanker per transit.
- Oil surged over 9% in single session, largest jump since April 2026.
- WTI hit ~$79/barrel, Brent closed above $83/barrel on July 13, 2026.
- Third consecutive night of U.S. military strikes against Iran.
What we know
On July 13, 2026, President Donald Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz—the maritime passage connecting the Persian Gulf to the Gulf of Oman, bordered by Iran to the north and the United Arab Emirates and Oman to the south—and demanded a 20% fee on all other cargo using this passage, according to Bloomberg.
For a supertanker—a very large crude carrier designed for mass transport of crude oil—this fee represents approximately $30 million per transit.
Oil prices jumped over 9% in a single session on July 13, 2026, the largest one-day gain since April. West Texas Intermediate (WTI), the North American benchmark crude used as the standard for futures contracts on the New York Mercantile Exchange, reached approximately $79 per barrel. Brent—crude extracted from the North Sea serving as the international reference for exports from Europe, Africa, and the Middle East, typically quoted several dollars above WTI—closed above $83 per barrel.
These measures coincide with a third consecutive night of military strikes conducted by U.S. armed forces against Iran, operations that could potentially continue for several more days.
Background
The Strait of Hormuz is the world's most strategically critical maritime passage for global energy. According to the U.S. Energy Information Administration (EIA), approximately 20 to 21% of global oil passed through it in 2023—roughly 21 million barrels per day.
Current tensions reflect maximum pressure on Iran that was reinstated following Donald Trump's return to the White House in January 2025. Military strikes beginning July 11, 2026, represent direct military escalation between the two nations.
Timeline
- May 8, 2018Donald Trump announces U.S. withdrawal from Iran nuclear agreement (JCPOA) and reinstates "maximum pressure" sanctions against Iran.
- Summer 2019Tensions peak in Strait of Hormuz: multiple tankers attacked or seized, Washington increases military presence in region.
- January 2025Donald Trump returns to White House: maximum pressure policy against Iran is reinstated with new sanctions on petroleum exports.
Related articles
Latest articles
Comments
No comments yet. Be the first to react.
