Middle East Tensions Spark Oil Surge Amid Trump's Hormuz Toll Proposal
U.S. President Donald Trump proposed a 20% toll on cargo through the Strait of Hormuz and reinstated an Iran blockade, causing Brent crude prices to jump over 9%, their largest daily gain since 2020. The developments led U.S. benchmark indexes lower overnight but had minimal impact on stock futures ahead of earnings reports.
Topics: middle_east_tensions oil_prices strait_of_hormuz trump_policy