Hormuz Tolls and Global Markets

Physical oil prices have surged to unprecedented levels as buyers scramble to secure prompt deliveries amidst reduced Middle Eastern flows.

Major refiners in Asia are considering scaling back operations as the supply crunch worsens fuel shortages.

Wall Street banks, however, are expected to report a $40 billion trading haul as the rekindled volatility drives revenue.

The International Maritime Organization has condemned the proposed tolls, warning that they could permanently alter global maritime trade routes.