Trump Proposes 20% Toll on Hormuz Strait Cargo; Oil Prices Surge 9%, Brent Crude Hits $86

According to Axios, on July 14, President Donald Trump proposed imposing a 20% toll on cargo passing through the Strait of Hormuz, triggering a sharp market reaction. International crude prices surged 9%, with Brent crude climbing to $86 per barrel from below $70 following a ceasefire announcement.

Meanwhile, Goldman Sachs analysis shows oil producers are accelerating plans to bypass the chokepoint. The bank identified 7 pipeline projects either under construction or in planning stages, projecting that over 45% of Persian Gulf crude exports could be protected from potential Hormuz disruptions by year-end 2027, rising to 60% by end-2028. Current projects include the UAE's East-West pipeline and Iraq's Basra-Haditha pipeline, with Dubai-based port operators also planning new coastal infrastructure in the UAE.