15:51 - 14.07.2026

---

July 14, Fineko/abc.az. The escalation of tensions between Washington and Tehran, which led to the actual halt of shipping in the Strait of Hormuz, has forced Asian refineries to resume purchasing crude oil from the U.S.

Amid the breakdown of the ceasefire and increased attacks on tankers, the U.S. has reinstated its blockade of Iranian ports.

The situation is complicated by the US president's proposal to impose a 20% transit fee through the Strait of Hormuz, which is equivalent to approx. $30 million per supertanker. With disruptions in oil supplies from the Middle East, Asian refineries have resumed negotiations on spot purchases of US crude oil.