Iran War: US Reinstates Hormuz Blockade, Demands 20% Fee | Daybreak Europe 7/14/2026

Summary

The program covers the US reimposition of a blockade on Iranian ships in the Strait of Hormuz and a demanded 20% transit fee, driving Brent crude above $85. It also highlights a hawkish repricing of Fed rate expectations ahead of CPI and Kevin Warsh's testimony, previews strong trading-driven US bank earnings, and notes extreme volatility in SK Hynix amid peak memory cycle fears and Korean leveraged ETF dynamics. Additional segments cover Hungary's political shift unlocking EU funds, UK chancellor market-friendliness polls, and the potential impact of a new Russia sanctions bill.

• US reinstates blockade and demands 20% fee on Strait of Hormuz shipments; Brent spikes above $85.
• Hormuz traffic nearly at a standstill; added costs seen passed to consumers and supporting oil premiums.
• Fed's Waller signals readiness to hike; market prices July hike as a coin flip, up from 20%, due to oil surge.
• Five major US banks expected to report nearly $39 billion in trading revenue, fueled by geopolitical and AI-driven volatility.
• SK Hynix swings wildly, amplified by dual listing and leveraged ETF rebalancing, amid peak memory earnings scrutiny.
• Hungary's parliament approves removing Orbán-aligned president, paving way for EU fund access and positive asset implications.
• Bloomberg survey shows market participants bearish on UK assets under Burnham, with Wes Streeting seen as most market-friendly chancellor.
• Trump backs Russia sanctions bill with 500% secondary tariffs on buyers of Russian oil and gas, adding geopol risks.