{"id":3392,"date":"2026-07-14T11:11:40","date_gmt":"2026-07-14T11:11:40","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3392"},"modified":"2026-07-14T11:11:40","modified_gmt":"2026-07-14T11:11:40","slug":"the-price-of-oil-shoots-upward-as-trump-demands-tolls-in-the-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3392","title":{"rendered":"The price of oil shoots upward as Trump demands tolls in the Strait of Hormuz"},"content":{"rendered":"<div>\n<h3>THE MARKETS<\/h3><h2><b>Oil spikes upward: Asian markets are largely up, but Europe and the U.S. go into the red<\/b><\/h2>\n<p><span>Oil rose about 12% to $86 per barrel and was continuing upward over the last 24 hours, but one question Wall Street is asking is: why not higher? Why not closer to $120, like at the beginning of the war? At the moment, traders are \u201cshowing reluctance to fully price back in another supply shock,\u201d ING\u2019s Francesco Pesole advised clients this morning.<\/span><\/p><p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3386\">Top CD rates from major banks on July 14, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more<\/a><\/p>\n<ul>\n<li><b>S&amp;P 500 futures<\/b><span> were flat this morning. The index closed down 0.79% yesterday.\u00a0<\/span><\/li>\n<li><b>In Europe,<\/b><span> the Stoxx 600 was down 0.78% in early trading and the U.K.\u2019s FTSE 100 was down 0.49% before lunch.<\/span><\/li>\n<li><b>Asia: <\/b><span>South Korea\u2019s KOSPI was up 0.73%. Japan\u2019s Nikkei 225 was up 0.74%. India\u2019s Nifty 50 was down 0.68%. China\u2019s CSI 300 was up 2.15%.\u00a0<\/span><\/li>\n<li><b>Brent crude<\/b><span> was $86 per barrel this morning.<\/span><\/li>\n<li><b>Bitcoin<\/b><span> rose to $62.6K.<\/span><\/li>\n<\/ul>\n<p><div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-3388\" height=\"814\" src=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/26045db58c301d58afc97dc56b3bc094-1024x814.webp\" width=\"1024\" srcset=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/26045db58c301d58afc97dc56b3bc094-1024x814.webp 1024w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/26045db58c301d58afc97dc56b3bc094-300x238.webp 300w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/26045db58c301d58afc97dc56b3bc094-768x611.webp 768w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/26045db58c301d58afc97dc56b3bc094.webp 1439w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div><\/p><div><div><div><\/div><\/div><\/div>\n<p><em>Chart via TradingEconomics.com<\/em><\/p>\n<h3>IRAN<\/h3><h2><b>No end in sight as Iran bombs tankers and Trump insists on a 20% toll on cargo in the Strait of Hormuz<\/b><\/h2>\n<p><b>The price of Brent Crude oil<\/b><span> hit $86 per barrel this morning, up from $77 the day before, as traders realized the siege of the Strait of Hormuz will not end soon.<\/span><\/p>\n<p><b>Iran hit two UAE tankers,<\/b><span> plus U.S. sites in Jordan and Bahrain. The U.S. conducted a third night of strikes on the Iranian coastal cities of Bushehr, Chah Bahar, Jask, Konarak, Abu Musa, and Bandar Abbas, in hopes of degrading Iran\u2019s ability to strike ships from the land-based sites. (Live coverage from the BBC <\/span><span>here<\/span><span>.)<\/span><\/p>\n<p><b>In Yemen,<\/b><span> the Houthis (an Iranian proxy group) bombed Saudi Arabia&#8217;s Abha International Airport.<\/span><\/p><div><div><\/div><\/div>\n<p><b>President Trump said<\/b><span> he would reimpose a U.S. blockade of Iranian vessels in the waterway, and only allow ships through if they paid the U.S. \u201cThe U.S.A. will be, from this point forward, known as \u201cTHE GUARDIAN OF THE HORMUZ STRAIT,\u201d but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped,\u201d <\/span><span>he said on social media<\/span><span>. The blockade will resume at 4 pm ET, Centcom said.<\/span><\/p>\n<ul>\n<li><b>Context:<\/b><span> A 20% toll would cost $32 million per tanker and add $16 to the price of oil, <\/span><span>per the FT<\/span><span>. During its blockade of the Strait, Iran had charged only $1-2 million per ship, payable in crypto.<\/span><\/li>\n<li><b>Iran mocked Trump on this point. <\/b><span>\u201cPOTUS is absolutely right. Whoever provides secure and safe passage of commercial vessels through the Strait of Hormuz should be compensated for this service,\u201d Iranian Foreign Minister <\/span><span>Abbas Araghchi said on X<\/span><span>. \u201cIran has always been the GUARDIAN of the Strait and will remain so FOREVER. 20% is of course too much. We will be fair.\u201d<\/span><\/li>\n<\/ul>\n<p><b>Heavy traffic. <\/b><span>Today, the Strait was crowded with ships waiting to transit the gap between Iran and Oman, this snapshot from Kpler\u2019s <\/span><span>MarineTraffic.com<\/span><span> shows:<\/span><\/p><div><div><div><\/div><\/div><\/div>\n<p><span><div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-3389\" height=\"551\" src=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/667200b8a3b046e098f4a292edab6938-1024x551.webp\" width=\"1024\" srcset=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/667200b8a3b046e098f4a292edab6938-1024x551.webp 1024w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/667200b8a3b046e098f4a292edab6938-300x162.webp 300w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/667200b8a3b046e098f4a292edab6938-768x414.webp 768w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/667200b8a3b046e098f4a292edab6938.webp 1439w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div><\/span><\/p><div><div><\/div><\/div>\n<h2><b>The longer the war goes on, the less relevant the Strait of Hormuz will become<\/b><\/h2>\n<p><span>The Gulf countries aren&#8217;t just twiddling their thumbs while President Trump and the Islamic Revolutionary Guard Corps of Iran figure out how to let ships through the Strait of Hormuz. Instead, they\u2019re building pipelines to give their oil an alternative way out to their customers.\u00a0<\/span><\/p><div><div><\/div><\/div><div><div><\/div><\/div>\n<p><span>Alexandra Paulus and her team at Goldman Sachs have been tracking pipeline construction and estimate that 45% of exports from the region will be insulated from the Strait by 2027 and more than 60% (or 14 million barrels per day) by the end of 2028. Their most ambitious scenario has 75% of capacity leaving via a non-Hormuz route by the end of that year. Paulus thus concludes that its forecast for Brent Crude futures, at $76 per barrel, may go lower as time goes by.<\/span><\/p>\n<ul>\n<li><span>Dubai plans new port to bypass Strait of Hormuz<\/span><span> &#8211; FT<\/span><\/li>\n<\/ul>\n<h2><b>The oil crisis has been really good for China\u2019s renewable energy sector<\/b><\/h2>\n<p><span>One of the big unintended consequences of the U.S. war against Iran has been the benefits it has delivered to China\u2019s green technology sector. As it dawns on both nation-states and the private sector that being dependent on energy sourced from a war zone comes with obvious flaws, China\u2019s exports of greentech have picked up, according to Beatrice Tanjangco of Oxford Economics.\u00a0\u00a0<\/span><\/p>\n<p><span>\u201cThis crisis represents a unique opportunity for China, which has built the knowledge and industrial base to supply clean energy and electrification technologies after supportive policies seeded domestic demand and expanded manufacturing capabilities. Firms headquartered in China account for a majority of global solar module and battery cell manufacturing capacity, electric vehicles, wind turbine components, and heat pump assemblies,\u201d she said in a note to <\/span><i><span>Fortune<\/span><\/i><span>.<\/span><\/p>\n<p><span><div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-3390\" height=\"538\" src=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/459e902c240c58afe9ec46cba3d43566-1024x538.webp\" width=\"1024\" srcset=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/459e902c240c58afe9ec46cba3d43566-1024x538.webp 1024w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/459e902c240c58afe9ec46cba3d43566-300x158.webp 300w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/459e902c240c58afe9ec46cba3d43566-768x404.webp 768w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/459e902c240c58afe9ec46cba3d43566.webp 1438w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div><\/span><\/p><div><div><div><\/div><\/div><\/div><div><div><\/div><\/div>\n<h3>MORE FROM FORTUNE<\/h3><p><span>MassMutual CEO says Americans\u2019 share of the U.S. debt is going up $10 a day<\/span><span> &#8211; Diane Brady<\/span><\/p>\n<p><span>McConnell\u2019s absence could jeopardize Republicans\u2019 defense spending agenda as the Iran war escalates<\/span><span> &#8211; Sasha Rogelberg<\/span><\/p>\n<p><span>Stolen laptops, data breaches, secret moles, and recruiting-as-espionage. Here are the wildest claims in Apple\u2019s lawsuit against OpenAI<\/span><span> &#8211; Emily Forlini<\/span><\/p>\n<p><span>How Adobe\u2019s CMO is preparing for the AI-powered era of brand discovery<\/span><span> &#8211; Ruth Umoh<\/span><\/p><div><div><\/div><\/div>\n<p><span>Americans hate AI so much that politicians are starting to lose their jobs over it<\/span><span> &#8211; Laura Mullenbach<\/span><\/p><p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3384\">Current price of oil as of July 14, 2026<\/a><\/p>\n<p><span>Gen Z\u2019s analog obsession is reviving a film camera market that digital killed<\/span><span> &#8211; Rotem Rozental\u00a0<\/span><\/p><div><div><div><\/div><\/div><\/div>\n<p><span>Elon Musk and Sam Altman are accusing each other of scamming investors as SpaceX and OpenAI jockey to lead AI revolution<\/span><span> &#8211; Marco Quiroz-Gutierrez<\/span><\/p>\n<h3>NO WAY EBAY<\/h3><h2><b>The extraordinary story of how eBay staff stalked and terrorized two bloggers, ending with the indictment of six of them<\/b><\/h2>\n<p><b>Must-read in the NYT:<\/b><span> The auction company\u2019s security unit, <\/span><span>at the behest of its CEO<\/span><span>, sent Ina and David Steiner a bloody pig mask akin to those worn in the \u201cSaw\u201d horror movie, a funeral wreath, and a copy of\u00a0 the book \u201cGrief Diaries: Surviving Loss of a Spouse.\u201d The Steiners had no idea who was threatening them. Terrified, they slept in separate beds in the hope that one would be able to call the police if someone tried to kill them in the night.\u00a0<\/span><\/p><div><div><\/div><\/div>\n<ul>\n<li>Now there is a new documentary about the case.<\/li>\n<li>Here is the backstory.\u00a0<\/li>\n<\/ul>\n<h3>CHART OF THE DAY<\/h3><h2><b>Spending on AI tokens correlates with the stock prices of hyperscalers<\/b><\/h2>\n<p><span><div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-3391\" height=\"562\" src=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/309bfdcdc4a5f5f57822c0a703d73363-1024x562.webp\" width=\"1024\" srcset=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/309bfdcdc4a5f5f57822c0a703d73363-1024x562.webp 1024w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/309bfdcdc4a5f5f57822c0a703d73363-300x165.webp 300w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/309bfdcdc4a5f5f57822c0a703d73363-768x422.webp 768w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/309bfdcdc4a5f5f57822c0a703d73363.webp 1440w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div><\/span><\/p>\n<p><span>If you ignore the abuse of the vertical axes on this chart from Torsten Sl\u00f8k at Apollo Global Management, you can see that the price per million AI tokens rises and falls with the UBS Hyperscalers Basket Index, which tracks the largest publicly traded providers of cloud services for AI.<\/span><\/p>\n<p><span>The correlation implies that if the cost of AI falls, so does the value of equity in the companies that supply computing power for those AI models\u2014presumably because lower compute revenues mean lower earnings per share.<\/span><\/p>\n<h3>NETFLOPS<\/h3><h2><b>Netflix stock is down 40% since Reed Hastings left\u2014but the bears have got this wrong, Wedbush argues<\/b><\/h2>\n<p><span>Shares in Netflix are down 40% since Reed Hastings left the board, Alicia Reese and her colleagues at Wedbush said in an email. Audience numbers have plateaued and its CPMs\u2014the amount it can charge advertisers per 1,000 eyeballs\u2014are in decline. \u201cElements of the bear case are real,\u201d she said. However, Netflix plans to increase the ad load on the platform and extract higher prices for its live sports offerings, she said. That could double ad revenue in 2026 to $3 billion. Hence her price target of $118 on a stock currently trading at $73.<\/span><\/p><div><div><div><\/div><\/div><\/div>\n<h3>NUMBER OF THE DAY<\/h3><h2>2053<\/h2>\n<p><span>The year in which the human population will reach a peak of 8.9 billion before declining toward 7 billion by 2100, according to Wood Mackenzie\u2019s interpretation of the United Nations\u2019 estimates of global birth rates. The U.N. will update its World Population Prospects report this month, and Peter Martin, head of economics at Wood Mackenzie, notes that some of the U.N.\u2019s estimates from the last report are coming in low. \u201cChina&#8217;s population contracted by 3.4 million people last year and now stands at 1.40 billion, some 9.6 million below the UN&#8217;s 2024 projection,\u201d he said in an email.<\/span><\/p>\n<h3>THE FRONT PAGES TODAY<\/h3><p><span>RIP the US state department<\/span><span> &#8211; FT<\/span><\/p>\n<p><span>\u2018Nobody underwrote for that\u2019: Private credit faces a key test as higher rates squeeze borrowers<\/span><span> &#8211; CNBC<\/span><\/p>\n<p><span>Trump gave Saudi crown prince his backing for risky strikes on Houthis<\/span><span> &#8211; Axios<\/span><\/p><div><div><\/div><\/div>\n<p><span>Putin Was Xi\u2019s Role Model. Now He\u2019s the Junior Partner.<\/span><span> &#8211; WSJ<\/span><\/p>\n<p><span>Premier Radev Pulls Bulgaria Out of Coalition of the Willing<\/span><span> &#8211; Bloomberg<\/span><\/p><div><div><div><\/div><\/div><\/div>\n<p><span>Judge Denounces Trump&#8217;s IRS Suit as Improper Exercise in Self-Dealing<\/span><span> &#8211; NYT<\/span><\/p>\n<h3>ONE MORE THING<\/h3><p><b>HR is now officially OK with you dating your coworkers (just fill out the forms first, please)<\/b><\/p><div><div><\/div><\/div>\n<p><span>People have always fallen in love with their coworkers and, for decades, going to the office was one of the main ways to find a life partner. But then along came the internet, followed by the #metoo movement, and suddenly it seemed that dating a coworker was at best risky and at worst abusive. Many companies banned the practice.\u00a0\u00a0<\/span><\/p>\n<p><span>So <\/span><i><span>Fortune\u2019s<\/span><\/i><span> Kristin Stoller <\/span><span>posed the question<\/span><span> to D.V. Williams, chief people officer at Match Group, in <\/span><span>the debut episode of <\/span><i><span>Fortune <\/span><\/i><span>Office Hours<\/span><span>, a new video series. Is it OK to date coworkers?\u00a0<\/span><\/p>\n<p><span>Transparency is key, Williams says. Employees who wish to enter into one should understand their company\u2019s policy and speak with HR about any disclosure requirements. Just as important, he says, is keeping any resulting \u201crelationship drama\u201d out of the office.\u00a0<\/span><\/p>\n<p><span>A workplace relationship \u201conly gets messy when things are hidden or you haven\u2019t had the right conversations to understand that company\u2019s policy. Other than that, it should be fun.\u201d<\/span><\/p><p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3382\">SoFi\u00ae vs. College Ave student loans<\/a><\/p><div><div><div><\/div><\/div><\/div>\n<ul>\n<li><i><span>Would you like to sponsor this newsletter? Contact Polly Raven (<\/span><\/i><i><span>polly.raven@fortune.com<\/span><\/i><i><span>) for details.<\/span><\/i><\/li>\n<\/ul>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Everything you need to know before you reach the office this morning.<\/p>\n","protected":false},"author":1,"featured_media":3387,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The price of oil shoots upward as Trump demands tolls in the Strait of Hormuz - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=3392\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The price of oil shoots upward as Trump demands tolls in the Strait of Hormuz - 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