Trump's Hormuz tariff spikes oil prices, drags global markets

U.S. President Donald Trump announced the reinstatement of a naval blockade of Iranian ports and a 20 % fee on all cargo transiting the Strait of Hormuz. The move pushed Brent crude above $83 a barrel and WTI up about 9 % in a single session, marking the sharpest one‑day jump in months.

The surge in oil prices triggered broad risk‑off trading. In the United States, the Dow Jones fell 0.26 %, the S&P 500 slipped 0.79 % and the Nasdaq dropped 1.55 %, while analysts warned that higher energy costs could revive inflation pressures and prompt the Federal Reserve to consider earlier rate hikes. In Brazil, the Ibovespa slipped more than 1 % and the real‑dollar rate rose to R$ 5.13. Asian equity markets lost nearly $1 trillion in market value as investors in Japan, South Korea and Taiwan feared supply disruptions. Chile’s dollar index and local stock indices also fell sharply.

Analysts highlighted the strategic importance of the Hormuz corridor, which carries roughly 20 % of global oil shipments, and noted that any prolonged closure could sustain higher oil prices, feeding inflation and tightening monetary policy worldwide.