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After Trump's announcement of the blockade on Iran and the 20% tariff/ Oil prices increase significantly

2026-07-13 22:26:00, Kosova & Bota CNA

After Trump's announcement of the blockade on Iran and the 20% tariff/ Oil

Oil prices rose to their highest levels in a month after the United States announced a naval blockade that will take effect on Tuesday will include Iran's entire coastline, ports, oil terminals and all ships, regardless of flag. The development has added to concerns about the security of energy supplies through the Strait of Hormuz.

Brent crude rose 9.59% to close at $83.30 a barrel, while U.S. WTI rose 9.42% to $78.14 a barrel. This is the biggest daily increase for both indicators in several months.

US President Donald Trump said the blockade would only apply to Iranian ships or those cooperating with Iran, stressing that other countries would continue to freely use the Strait of Hormuz. He also added that the US would continue to guarantee the safety of navigation in the area, but demanded a tariff that would represent 20% of the value of all cargo passing through this strategic route.

The decision comes after military tensions between the US and Iran escalated. According to the US Central Command (CENTCOM), US forces carried out new airstrikes on Iranian targets, while Tehran responded with attacks on US military bases in Jordan, Kuwait, Bahrain and Oman.

Meanwhile, Iran claims that the Strait of Hormuz has been closed until further notice, but US authorities and data from maritime monitoring companies show that maritime traffic is continuing normally. However, the risk level in the area remains very high and commercial ships have been advised to exercise maximum caution.

Analysts warn that if the crisis continues, Gulf countries will accelerate projects to build alternative oil transport routes, avoiding dependence on the Strait of Hormuz. According to Goldman Sachs, by the end of 2028, the capacity of alternative pipelines could cover over 60% of the region's oil exports that currently pass through this strategic route. /CNA





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