Trump's 20% Hormuz Fee Sparks Oil Surge and Market Turmoil
U.S. President Donald Trump announced that the United States would charge a 20 % reimbursement fee on all cargo transiting the Strait of Hormuz and would reinstate a naval blockade of Iranian ports. The proposal was quickly retracted, with Trump later saying the fee would be replaced by trade‑and‑investment deals with Gulf states.
The announcement sent oil prices soaring: Brent futures rose more than 9 % to over $86 per barrel and West Texas Intermediate to about $78 per barrel, the highest levels in a month. The sharp rise in energy costs pressured global markets – Brazil’s Ibovespa fell about 1.2 % and the Brazilian real weakened as the dollar climbed above R$5.13, while Germany’s DAX held above the 25 000‑point mark despite the geopolitical shock.
The spike in oil also revived concerns for Brazil’s agribusiness, where reduced shipments through Hormuz threaten imports of phosphate and sulfur fertilizers, prompting warnings of supply shortages for the 2026/27 harvest.
Cryptocurrency markets responded to the same tension and to a surprise slowdown in U.S. inflation: Bitcoin surged past US$64 000 and other major tokens rose, as investors weighed the combined impact of lower inflation expectations and heightened Middle‑East risk.