Iran has started collecting tolls from ships seeking safe passage through the Hormuz Strait, amid rising tensions with the US. Oil prices rose and stocks fell in response to US President Donald Trump's speech. The process is currently informal, but could be formalized in the future.

Oil prices rose and stocks fell on Wednesday following US President Donald Trump’s speech in which he warned he would hit Iran “extremely hard” over the next two to three weeks. Meanwhile, Iran has reportedly begun collecting tolls from ships seeking safe passage through the Hormuz Strait. We’ll take a closer look at how this process is unfolding and whether it could be formalised. Also in this edition, SpaceX has filed for what could become the world’s largest ever Initial Public Offering.