Oman has publicly supported Iran's proposal to introduce service fees for vessels transiting the Strait of Hormuz, a development that could fundamentally alter the cost structure of global oil and gas trade.
The endorsement by Muscat, a key regional stakeholder, lends diplomatic credibility to Tehran's long-standing ambition to monetize access to the chokepoint, which handles roughly a fifth of the world's oil consumption.
The move follows an agreement between Iran and Oman to jointly study the administrative costs of managing the strait.
While the study was initially framed as a technical exercise, Oman's backing of the fee structure signals a potential shift from theoretical discussion to practical implementation.
For traders and shipping operators, the prospect of mandatory transit fees introduces a new variable in logistics planning and could act as a de facto tax on energy exports from the Gulf region.
Markets are likely to scrutinize the announcement for signs of imminent implementation.