Oil prices pared earlier gains after President Donald Trump withdrew a proposal to charge commercial vessels a 20% protection fee.

Strait of Hormuz

Who

Donald Trump

What

When

Tue, 14 Jul 2026 17:48:56 GMT · 3h 18m ago

Where

Strait of Hormuz ·

Why

President Donald Trump withdrew a proposal to charge commercial vessels a 20% protection fee.

The Frontline Impact

How this affects you

Oil prices experienced a reduction in earlier gains following the withdrawal of a proposed protection fee for commercial vessels in the Strait of Hormuz.

Story chain

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Verified Sources & Citations

BOL News
https://www.bolnews.com/business/oil-markets-react-as-trump-shelves-strait-of-hormuz-fee-plan/
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