Brent crude climbed above $85 a barrel after renewed US‑Iran hostilities and President Donald Trump announced he was reinstating a US blockade of Iranian ships transiting the Strait of Hormuz and would charge a 20% reimbursement on other cargoes. Bloomberg reported Trump called the United States the waterway’s “GUARDIAN,” saying the move intensifies the dispute with Tehran over the strait. Market reports said the jump followed US strikes on Iran and related escalation; CNBC and NBC News noted Brent posted roughly its biggest single-day percentage gain since May 2020, with one report showing a close around $83.30 per barrel. Asian trading extended the surge, with some traders reporting levels above $84, $85 as the day progressed. Critics and some legal commentators questioned the legality of the planned blockade and the 20% fee, while analysts warned the measures add a fresh war risk premium to oil markets. The immediate consequence is higher oil benchmark prices and renewed market sensitivity to shipping through the Strait of Hormuz, which could affect global supply calculations and trading in the coming days.
