Oil spikes as Hormuz toll proposal shakes global markets

Oil prices jumped to about $86 a barrel after Trump floated a 20% toll for ships through the Strait of Hormuz, amid Iran’s attacks on vessels and U.S. strikes; Gulf states are exploring bypass routes via pipelines, and analysts say the disruption could persist with prices potentially moving higher in the near term, though some forecasts expect longer-term shifts away from Hormuz as pipeline routes expand.