Trump Reimposes 20% Hormuz Cargo Charge as Oil Jumps More Than 5%
Updated
Updated · CNBC · Jul 12
Trump Reimposes 20% Hormuz Cargo Charge as Oil Jumps More Than 5%
3 articles · Updated · CNBC · Jul 12
Summary
U.S. stocks fell to session lows after Trump said he was reinstating a blockade on Iranian shipping through the Strait of Hormuz and would seek reimbursement via a 20% charge on all cargo shipped.
Oil reacted immediately: WTI rose more than 5% above $75 and Brent gained 5.3% to $80, while the S&P 500 fell 0.4%, the Nasdaq dropped 1% and the Dow slipped 56 points.
The move marks a fresh escalation after U.S. and Iranian airstrikes over the weekend; Tehran had declared the strait closed after targeting U.S. facilities in Gulf countries, though Trump said Sunday commercial traffic remained open.
Chip stocks led the equity weakness, with SK Hynix down 7%, Micron 6% and Sandisk 10%, as investors also braced for a heavy earnings week and Tuesday's June CPI report.
Could the Hormuz blockade permanently redraw global trade maps and create new resource alliances?
Is the proposed 20% security fee a violation of maritime law or a new model for policing vital waterways?
Beyond oil, what is the true cost to global food security if the world's fertilizer supply chain is broken?
The 2026 Strait of Hormuz Crisis: US Cargo Charge, Market Shock, and the Global Energy Repercussions
Overview
On July 13, 2026, President Trump announced a major shift in US policy by declaring that the US would take control of the Strait of Hormuz and act as its guardian, reinstating 'THE IRANIAN BLOCKADE' to restrict only Iranian ships and their customers. He emphasized that the strait would remain open for all other countries, aiming to ensure fair and open use for non-Iranian vessels. This move, rooted in a dispute over navigation rights—where Iran claims authority to regulate traffic and levy charges, which the US rejects—sent immediate shockwaves through global markets, highlighting the region's critical role in international trade and energy security.