U.S. President Donald Trump said Iran has assured Washington that it is not charging any tolls, insurance fees, or other costs on ships passing through the Strait of Hormuz. Trump warned that if reports claiming otherwise are true, negotiations would end immediately. He also said the U.S. has not given Iran any money but may use Iranian funds under U.S. control to buy American food products such as corn, wheat, and soybeans for Iran.
Ship-tracking data show maritime traffic through the Strait of Hormuz is increasing again. At least 35 merchant vessels, including dry-bulk carriers, cargo ships, and container vessels, are preparing to transit the waterway. Several ships have already passed through under a United Nations-backed shipping mechanism.
A UN spokesperson confirmed that vessels are transiting the strait under an evacuation and safety plan coordinated by a UN shipping agency. Oman has also offered temporary shipping routes through the strait and said it will not impose any transit fees, citing the principle of freedom of navigation.
Oil prices fell sharply as traders grew more confident that shipping through the Strait of Hormuz will continue without major disruptions. Brent crude dropped below $76 per barrel, touching $75.50, while U.S. WTI crude fell to $72.03 per barrel, its lowest level since early March.
Analysts said the decline reflects expectations that Iranian oil could return to global markets if sanctions are eased. Large volumes of Iranian crude are reportedly already stored on tankers, meaning exports and production could increase within weeks. Around 20% of the world’s oil shipments pass through the Strait of Hormuz.
Qatari Prime Minister Sheikh Mohammed said a direct U.S.-Iran hotline created during talks in Switzerland is helping prevent misinformation and coordinate communications during sea-mine clearance operations. He warned that fake messages falsely claiming to be from the IRGC have been sent to ships and said the hotline allows vessels to verify threats with Iranian authorities.
Meanwhile, Qatar and Oman have launched talks that will bring together Iran, Gulf Cooperation Council (GCC) members, and Iraq to discuss the future operation of the Strait of Hormuz. Diplomats said these talks are separate from U.S.-Iran peace negotiations and mine-clearance efforts, focusing instead on long-term governance, navigation, and regional cooperation in the strategic waterway.
BBW News Desk is the editorial team of BigBreakingWire, a digital newsroom focused on global finance, markets, geopolitics, trade policy, and macroeconomic developments.
Our editors monitor government decisions, central bank actions, international trade movements, corporate activity, and economic indicators to deliver fast, fact-based reporting for investors, professionals, and informed readers.
The BBW News Desk operates under the editorial standards of BigBreakingWire, prioritizing accuracy, verified information, and timely updates on major global developments.
