US President Donald Trump has indicated a willingness to abandon a proposed toll on vessels transiting the Strait of Hormuz, marking a significant shift in the administration's approach to the critical shipping chokepoint.
The announcement, made via a post on Truth Social, suggests a de-escalation in the immediate threat to commercial shipping routes that had sparked concerns among energy traders and logistics firms.
The potential removal of the toll directly addresses fears of increased transit costs and insurance premiums for tankers moving through the narrow waterway.
While the proposal had raised alarms about potential disruptions to global oil flows, the president's reversal aims to stabilize expectations for freight rates and energy supply chains.
Market participants had been closely monitoring the situation for signs of further escalation or policy shifts that could impact shipping schedules.
This development follows earlier statements from the White House regarding assurances received from Iran.