Iran and Oman have agreed to study the costs associated with administering the Strait of Hormuz, a move that could introduce transit fees for commercial vessels passing through the vital waterway.
The two nations confirmed the discussions on Tuesday, jointly asserting their sovereignty over the corridor while outlining plans to formalize service charges for maritime traffic.
The development introduces a potential new cost layer for global energy shipments, as roughly a fifth of the world’s oil supply passes through the Strait.
While no specific fee structure or timeline has been announced, the mere prospect of tolls has reignited concerns among traders and shipping operators about the stability of the route.
Brent crude prices faced renewed pressure in the session as markets digested the implications of a monetized chokepoint.
This diplomatic maneuver comes amid conflicting reports regarding Iran’s broader geopolitical posture.