Oil markets lurched into crisis mode Monday as the U.S. moved to block Iranian port access and levy a 20% fee on vessels transiting the Strait of Hormuz. Crypto assets, already sensitive to macro shocks, are now adjusting to a fresh surge in energy costs and renewed geopolitical uncertainty. According to the market update, Brent crude jumped roughly 10% to around $83.63 a barrel within hours of the announcement.

The Oil Shock: What Markets Know So Far

President Trump’s directive reinstated a blockade on vessels entering or leaving Iranian ports and proposed the cargo charge for other ships using the critical waterway. U.S. Central Command said enforcement would begin at 4 p.m. New York time on July 14, as U.S. forces launched a…