The introduction of a 20% tariff on ships passing through the Strait of Hormuz by the US will increase the cost of oil transported through it by approximately $ 16 per barrel, according to Andy Lipow, head of the consulting firm Lipow Oil Associates.
As he commented to CNBC, if US President Donald Trump's proposed tariff is applied to crude oil, it will increase its price by at least $ 16 per barrel. Lipow added that the energy market had expected an increase in oil supplies after the signing of a memorandum of understanding between the United States and Iran, but that optimism has faded since the resumption of strikes.
On July 13, Trump said that the United States wants to control shipping in the Strait of Hormuz, receiving 20% of the value of the cargo they carry as compensation for ensuring the safety of ships. Approximately 25% of the world's oil trade and approximately 20% of liquefied natural gas are transported through the Strait of Hormuz.
Amid the statements of the US president and events in the Middle East, oil prices rose to their highest level in weeks. On Tuesday evening, the price of Brent crude oil futures for delivery in September 2026 on the London ICE exchange exceeded $ 85 per barrel for the first time since June 15, 2026.