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Oil prices ease off highs as Trump abandons 20% Hormuz fee
By Michele Maatouk
Date: Tuesday 14 Jul 2026
(Sharecast News) - Oil prices eased off highs on Tuesday after Donald Trump abandoned plans to impose a 20% charge on cargo shipments through the vital Strait of Hormuz.
At 1640 BST, Brent crude was up 0.6% at $83.83 a barrel and West Texas Intermediate was 0.6% higher at $78.62.
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