Trump targets the "toll" in the strait of Hormuz! Fully loaded supertankers need to pay 30 million US dollars, criticized by the shipping industry as "highway robbery".
Based on an oil price of $80 per barrel, a fully loaded supertanker carrying crude oil would need to pay approximately $30 million.
On July 13 local time, U.S. President Trump posted on social media platforms that the Strait of Hormuz is currently open, and will remain open regardless of Iran's participation. The U.S. will reenact "blockades against Iran," which will only apply to Iranian ships or customers, restricting their access to the strait, while all other countries can use the strait fairly and openly. He also stated that the U.S. will charge a 20% fee for all goods transported through the area, and related processes and deployments will start immediately.
As a result of this news, international oil prices surged. As of the time of writing, Brent crude futures rose nearly 10% to $83.32 per barrel; WTI crude futures rose 0.90% to $78.84 per barrel.
At an oil price of $80 per barrel, it would cost a super oil tanker, filled with oil, about $30 million. Super oil tankers typically carry about 2 million barrels of oil. In contrast, Iran has reportedly charged up to $2 million per voyage in the past.
The White House did not provide further details on Trump's fee proposal, including how the fee mechanism would be implemented, and did not specify if they had discussed this with U.S. allies in the Gulf region.
The shipping industry reacted with surprise and skepticism. Nearly a dozen people involved in the shipping market - including industry insiders whose tankers have recently passed through the Strait of Hormuz - said they had not received any warnings about Trump's plan to charge for transit goods.
Due to the lack of specific implementation details, they believe that it is too early to judge how this plan will affect future shipping decisions. One captain, who requested anonymity, called the fee "highway robbery."
As the fragile ceasefire agreement broke down, the struggle for control of the Strait of Hormuz by the U.S. and Iran is seen as crucial for both countries. Typically, about one-fifth of global oil and gas transportation passes through this strait.
Iranian Foreign Minister Abbas Araghchi later responded on social media, saying, "Absolutely right. Any party providing security services for commercial ships to safely pass through the Strait of Hormuz should be compensated for this service." However, he also stated, "Of course, the 20% fee is too high," and added, "We will keep it fair."
Related Articles

The escalating situation between the US and Iran has sparked concerns about inflation! Market bets on the probability of a rate hike by the Federal Reserve in July continue to rise.

Milestone moment! $4.5 billion in funding pours into the fusion race track, industry leader General Fusion (GFUZ.US) surges 21% on its first day of listing.

Apollo's chief economist: if the AI boom subsides, there is a fear of a sharp drop in the US dollar.
The escalating situation between the US and Iran has sparked concerns about inflation! Market bets on the probability of a rate hike by the Federal Reserve in July continue to rise.

Milestone moment! $4.5 billion in funding pours into the fusion race track, industry leader General Fusion (GFUZ.US) surges 21% on its first day of listing.

Apollo's chief economist: if the AI boom subsides, there is a fear of a sharp drop in the US dollar.

RECOMMEND





