Trump’s 20% Hormuz toll jolts markets as Asia adapts to oil shock

Asia's economies are facing renewed pressure due to tensions surrounding the Strait of Hormuz, a critical chokepoint for global energy transport. The article states that a breakdown in the US-Iran ceasefire and Washington's decision to impose a "blockade-cum-toll" are contributing to elevated energy costs and strained shipping flows. This situation caused oil prices to jump to a one-month high of $84.78 a barrel on Tuesday morning. The Strait of Hormuz is vital, carrying a fifth of the world's crude oil and gas during peacetime. Despite these challenges, economists and shipping analysts suggest that Asia is better positioned to handle the impact this time compared to previous instances.