What specific action did Donald Trump announce regarding Iranian ships and the Strait of Hormuz, and what financial demand did he make on other cargo?

Donald Trump announced he would reimpose a blockade on Iranian ships transiting the Strait of Hormuz and demand a 20% reimbursement — roughly $30 million on full supertankers carrying oil — on all other cargo moving through the waterway.

How did oil prices react immediately after Trump's announcement, and what were the exact closing levels for WTI and Brent crude?

Oil held its biggest gain since April, with West Texas Intermediate near $78 a barrel after rallying 9.4% on Monday, and Brent closing above $83 — specifically at $83.30 a barrel for September settlement, up 9.6% on Monday.

Oil Holds Jump After Trump Reinstates Blockade on Iranian Ships

Jul 13, 2026

Oil prices surged over 9% after President Trump announced a reimposed blockade on Iranian shipping in the Strait of Hormuz, raising global supply concerns. WTI traded near $78 per barrel while Brent closed above $83 following the geopolitical escalation.

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