The FX Files – Trump’s 20%

Articles & Reports

Oil continues to climb (WTI $80.38, +2.8% OTD) as Trump will reinstate a blockade of Iranian ships out of the Strait of Hormuz starting at 4:00 pm EST today. Ships from other countries may pass provided they pay the US a 20% fee for safe passage (roughly US$30mm per VLCC). The Iranian government stated that negotiations with the US have entered a “crisis phase”, and Strait traffic fell to its lowest level in a month.

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