Crude prices move lower after Trump backtracks on his 20% Reimbursement Fee

Crude oil prices are moving lower after President Trump backed away from his proposal to impose a 20% reimbursement fee on all cargo ships exiting the Strait of Hormuz. The idea, which caught markets by surprise yesterday and helped spark a sharp rally in oil prices, has now been shelved. Instead, the administration is shifting its focus toward securing inv…

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