Oil Holds Jump After Trump Reinstates Blockade on Iranian Ships

🇺🇸 Bloomberg (US) —

AI Summary

Oil prices surged following US President Donald Trump's announcement to reinstate a blockade on Iranian ships passing through the Strait of Hormuz. The move includes demands for payment on all cargo transiting the waterway, significantly impacting global oil supply routes.

Oil held its biggest gain since April, after US President Donald Trump said he would reimpose a blockade on Iranian ships transiting the Strait of Hormuz and demand payment for all other cargo moving through the waterway.

Security Politics Markets Commodities Energy Shipping oil prices blockade Iran Strait of Hormuz Trump shipping blockade global oil supply

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