Trump Floats U.S. Control of Hormuz Strait; Strategic Petroleum Reserve Hits Lowest Since 1983

BlockBeats reports that on July 14, U.S. President Donald Trump said the United States should control and operate the Strait of Hormuz. He said the administration is weighing transit fees for vessels passing through the chokepoint, potentially set at 20% of cargo value, to help cover the cost of securing the waterway. Trump also signaled the U.S. could continue military action against Iran, noting U.S. forces carried out airstrikes for a third consecutive night. Analysts said shipping flows through the Strait of Hormuz have yet to normalize, and with the U.S. entering its peak summer driving season, both the U.S. Strategic Petroleum Reserve (SPR) and commercial crude inventories could keep falling. That combination is seen as adding upward pressure to international oil prices. For the week ended July 3, the SPR declined to 319.5 million barrels, its lowest level since 1983 and only modestly above the recommended safety floor of about 250 million barrels. Market participants said a prolonged disruption in the Strait of Hormuz could keep global crude benchmarks rising even if U.S. domestic supply remains relatively ample, potentially stoking inflation and increasing the odds the Federal Reserve keeps interest rates elevated. Iran's Foreign Minister Alireza 阿拉格齐 said any party that ensures safe passage through the Strait of Hormuz should be compensated, but called a 20% fee excessive.