# Oil prices rise as U.S. launches new Iran airstrikes, while Trump abandons Strait of Hormuz fee

- Link: https://www.widthness.com/oil-prices-rise-as-u-s-launches-new-iran-airstrikes-while-trump-abandons-strait-of-hormuz-fee/
- Published: 2026-07-15T09:15:00-05:00
- Author: Curated by John Wysocki

Photo: President Donald J. Trump, Monday, July 6, 2026, in the Oval Office. Photo credit: Official White House photo by Joyce N. Boghosian via Flickr. US government work. Article by Spencer Kimball and Lee Ying Shan. CNBC – updated July 14, 2026. Oil prices rose Tuesday as the U.S. bombed Iran before imposing a naval blockade, while President Donald Trump abandoned his demand that ships pay a protection fee to transit the Strait of Hormuz. U.S. West Texas Intermediate futures rose 1.5% to close at $79.34 per barrel. Brent futures, the international benchmark, gained 1.72% to settle at $84.73 per barrel. The U.S. military launched more airstrikes against Iran on Tuesday as it reimposed a blockade on the country’s ports and coastal areas at 4 p.m. ET, U.S. Central Command said in a social media post. […] Click here to view original web page at www.cnbc.com Related articles: US, Iran trade strikes after Trump blockade threat – The Hill Trump backtracks on plan to charge 20 percent fee for ships traveling through Strait of Hormuz – Politico Trump’s Strait of Hormuz fee would have cost millions, opened “a very dangerous Pandora’s Box,” experts say – CBS News