Trump reinstates Iran blockade, US to charge for guarding Hormuz

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AI Fusion Summary

Donald Trump has reinstated the US blockade of Iranian shipping in the Gulf, introducing a 20% toll for other countries passing through the strait of Hormuz to fund safety and security. This move, amid escalating strikes between the US and Iran, caused Brent crude prices to climb 5% to $79.37 a barrel while stocks fell. The blockade heightens geopolitical tensions, potentially disrupting global oil markets and complicating diplomatic resolutions regarding the vital trade route.
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