Iran and Oman are preparing tolls for ships transiting the Strait of Hormuz during the truce. Markets react positively
Iran and Oman want to introduce transit charges for commercial ships crossing the Strait of Hormuz during the two-week truce.
Iran and Oman want to introduce transit fees for commercial ships. PHOTO: Shutterstock
The funds collected would go towards rebuilding conflict-affected infrastructure, according to Iran's semi-official Tasnim news agency and Reuters.
The Strait of Hormuz, one of the most important sea routes for global oil transport, has been virtually blocked since the beginning of the war. Maritime traffic monitoring data indicate that only about 5% of the usual shipping volume still transits the area. However, some oil tankers managed to get through, after direct negotiations with the Iranian authorities. Pakistan and India are among the states that have obtained guarantees for certain self-flagged vessels.
Sources cited by international media claim that Iran would charge up to $2 million for each ship crossing the strait, but it is not clear to what extent the operators have accepted or paid these fees.
Israel's military is also on high alert and ready to launch coordinated attacks on Iran, an Israeli source told CNN on Tuesday, as a deadline set by US President Donald Trump to reopen the Strait of Hormuz nears its end.
The announcement of the temporary truce between the United States and Iran, which includes the partial reopening of the sea route, had an immediate impact on global markets. Oil prices fell significantly, while stock markets reacted positively.
Brent oil, of international reference, fell by approximately 15.9%, reaching 92.30 dollars per barrel. At the same time, US oil prices fell by about 16.5%, up to 93.80 dollars per barrel. Even so, levels remain above pre-conflict levels, when the price was around $70 a barrel on February 28.
The rise in energy costs in recent weeks has been fueled by major disruptions in oil and gas supplies from the Middle East after Iran threatened to attack ships transiting the Strait of Hormuz in response to US and Israeli airstrikes.
