US Blocks Iranian Ports and Charges Fees on Major Oil Route

The US Navy blocked access to all Iranian ports on July 13, 2026. Trump also announced a 20% fee on ships passing through the Strait of Hormuz—a narrow waterway where much of the world's oil travels—reversing an earlier agreement. Iran says the US has no right to control the strait. Oil prices jumped sharply, rising 7.8% to $81.92 per barrel.