Trump drops a 24-hour-old vow to charge cargo ships for using the Strait as the US continues its battle to break Iran's hold on the waterway.
President Trump said the United States could collect tolls or fees, despite Vice President JD Vance and Secretary of State Marco Rubio saying no country could do so.
Iran has been sneaking oil tankers through the Strait of Hormuz over the past few days, even before the US said it would reimpose a blockade of Iranian ports as hostilities escalated.
Data: Financial Modeling Prep; Chart: Ben Geman/AxiosOil prices surged about 9% Monday to roughly $83 per barrel after President Trump claimed the U.S. was reinstating a naval blockade on Iran, adding to gains already driven by renewed hostilities over the weekend.Why it matters: Higher oil prices typically feed into higher gasoline prices, potentially…
The U.S. and Iranian militaries exchanged fire early Tuesday following fresh threats from President Trump to take over the Strait of Hormuz. The president said Monday that the U.S military would reimpose its naval blockade in the channel and begin charging a 20 percent toll on vessels transiting the strait “immediately.” This critical trading passage,…
Plus, Kevin Warsh says the Fed has ’no tolerance’ for high inflation, and the most expensive dinosaur sells for $50.1 million.
