"After productive discussions with Middle Eastern leaders, I decided to replace the 20% fee paid to the US with trade and investment agreements that Gulf nations will undertake with the US," US President Donald Trump wrote on Truth Social on 14/7.

President Donald Trump speaks with reporters on Air Force One on 8/7. *Photo: AP*

One day earlier, he announced the re-imposition of a blockade on Iranian seaports, while also collecting a fee equivalent to 20% of the cargo value from ships transiting the strait. He explained this was a necessary cost for the US to ensure security and safety through this vital waterway. Global oil prices rose over 10% due to this information.

However, following the announcement to withdraw the fee, the market began to cool. A barrel of Brent crude is now 84 USD, while WTI is 78 USD, a decrease of about 2 USD compared to this afternoon.

Ha Thu (according to CNBC, Reuters)