Iran’s parliament advanced a bill to charge ships for using the Strait of Hormuz, through which roughly a fifth of the world’s oil passes. This move adds fresh pressure on oil markets hours before Washington unveils new sanctions on Tehran. The US bond market was already fragile before this announcement: the 30-year Treasury yield held around 5.3%, its highest level since 2007, while US public debt crossed the $40 trillion threshold. Oil prices fell Monday, with WTI losing 1.3% to $85.93 per barrel and Brent down 1.87% to $93.22. The key question remains whether US sanctions will also target China, which absorbs more than 80% of Iran’s crude exports.
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