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Trump Proposes 20% Strait of Hormuz Cargo Levy; Benchmark VLCC Transit Cost Implied Near $30 Million
Analyses published July 13 estimated the proposal at about $30 million for a 2 million-barrel VLCC cargo and roughly $17 million for a fully laden large gas carrier at current prices. No collection or enforcement mechanism has been detailed, while the IMO has said international straits have no legal basis for compulsory tolls.
Central Banks & Policy · a month agoUS Supreme Court rules Trump may remove FTC commissioners, overturning Humphrey's Executor
In a June 29 ruling, the Supreme Court held that Federal Trade Commission commissioners exercise executive power and cannot be shielded by statutory for-cause removal limits, allowing the president to dismiss them. The court said the decision does not resolve all agency structures and separately indicated the Federal Reserve has a distinct historical basis for independence.
Central Banks & Policy · a month agoU.S. Supreme Court keeps Fed Governor Lisa Cook in office as removal case proceeds
In a June 29 ruling in Trump v. Cook, the Court denied the administration’s stay request, leaving a lower-court injunction in place and keeping Governor Lisa D. Cook on the Federal Reserve Board while the case proceeds. The opinion focused on procedural protections tied to the Fed’s for-cause removal standard and did not define cause fully.
Energy & Commodities · a month agoUS reaches $765 million settlement with Invenergy to end four offshore wind leases
The Trump administration said it will reimburse Invenergy $765 million under a settlement to terminate four offshore wind leases. The projects include Leading Light Wind, planned for up to 2.4 gigawatts, and other lease areas located off the coasts of Maine and California, according to disclosed statements.
Geopolitics & Trade · a month agoGlobal shares advance and oil falls after Trump says U.S. and Iran signed a preliminary deal to reopen Hormuz
Global stock indexes and bond prices rose while oil declined after President Donald Trump said the United States and Iran had signed a preliminary agreement that would extend a ceasefire by 60 days and reopen the Strait of Hormuz, though terms were not released and both sides said a permanent truce remains under negotiation.
Geopolitics & Trade · a month agoTurkey opens Ankara Airport ahead of NATO summit arrivals
President Tayyip Erdogan inaugurated Etimesgut Airport as Ankara Airport with the ANK code for domestic and international operations. The facility is set to receive aircraft carrying leaders attending the NATO summit, including US President Donald Trump, according to Turkish media and officials.
Geopolitics & Trade · a month agoTrump says US nears Iran settlement and halts planned military action
Trump said the United States is close to an agreement with Iran to de-escalate the conflict and that planned strikes set for Thursday were canceled. Reports said the discussions include reopening the Strait of Hormuz to shipping, while Iranian officials said no final decision has been made.
Energy & Commodities · a month agoCrude climbs over $1 after Iran says Strait of Hormuz is shut following fresh U.S. strikes
Oil prices rose by more than $1 after Iran said the Strait of Hormuz was closed following additional U.S. strikes on Iranian cities. The move raised concerns over Middle East supply flows, while the U.S. Energy Information Administration said lower 2026 demand could limit the impact of disruption on prices.
Geopolitics & Trade · a month agoU.S. expands strikes on Iran as Trump warns of more action if no agreement is reached
The United States launched a second round of airstrikes on Iran early Thursday after Trump said additional attacks could follow if Tehran does not accept a deal. Iran responded with strikes toward Bahrain, Kuwait and Jordan, while negotiations remained unresolved and oil prices rose amid Strait of Hormuz tensions.
Geopolitics & Trade · 2 months agoU.S. says fighter jets struck Iranian radar and air defense sites after Army helicopter incident near Hormuz
The U.S. military said it carried out strikes on Iranian air defense, ground-control and surveillance radar sites near the Strait of Hormuz after a U.S. Army Apache went down off Oman. Two crew members were rescued and were in stable condition. Iranian media reported explosions in Qeshm, Sirik, Bandar Abbas and near Jask.