WS #11968
Trump reinstates naval blockade of Iran and announces 20% fee on Strait of Hormuz cargo, escalating conflict and driving oil prices higher. OPEC cuts 2026 oil demand growth forecast to 780k bpd from 970k bpd, but raises 2027 forecast to 1.94M bpd.
Strait of Hormuz blockade escalation
Trump reinstates naval blockade of Iran and announces 20% fee on Strait of Hormuz cargo, escalating conflict and driving oil prices higher.
OPEC cuts 2026 oil demand growth forecast to 780k bpd from 970k bpd, but raises 2027 forecast to 1.94M bpd.