Oman’s plan to impose fees on vessels passing through the Strait of Hormuz draws US concerns and weighs on oil prices as ceasefire talks continue.
Oman has formally proposed a fee system for ships transiting the Strait of Hormuz, modeled after voluntary contributions in Asian waterways. The plan, presented to the US, has sparked opposition, with Washington expressing concerns over the proposal’s viability and legality.
The proposal follows a 60-day ceasefire agreement that excluded tolls but called for dialogue between Iran and Oman. European nations, while opposed to fees, are exploring ways to ensure compliance with international law, potentially through voluntary payments. US President Trump previously labeled such fees “unacceptable.”
WTI crude oil fell 13 cents to $70.60 as the ceasefire held, easing supply disruption fears. Markets remain cautious amid uncertainty over the fee plan’s implementation and regional tensions.