API: U.S. Cushing crude inventories +238,000 barrels in the week to July 10; prior -69,000 barrels.

President Trump said on Monday the US will charge a 20% fee on all goods transiting the Strait of Hormuz to recoup the cost of US military protection. Shipping operators and logistics experts say such a levy would sharply raise transport costs for oil and other cargoes, though some analysts doubt it will be implemented because of the high expense. Trump gave no calculation method for the 20% fee; if levied on cargo value it could more than double oil transport costs. ING senior economist Rico Luman estimates current tanker freight from the Gulf to Europe at about $10/bbl; with oil near $80/bbl, a 20% value fee would add roughly $16/bbl, lifting transport costs toward $26/bbl. For a 2m-barrel cargo, that would increase costs by more than $30m.

海关总署：中国6月成品油出口436.1万吨，5月为336.8万吨。