Iran assures no tolls for ships as Hormuz traffic rebounds under US‑Iran pact

President Donald Trump announced that Iran had guaranteed to the United States that no tolls, insurance costs or any other charges would be levied on vessels transiting the Strait of Hormuz. The statement, posted on Truth Social, quoted Trump: “There are no tolls, no insurance costs & no other charges of any kind being sought or received by Iran on ships traveling the Strait of Hormuz.” Iranian chief negotiator Mohammad Bagher Ghalibaf added that the waterway “will never be the same again” after discussing a joint toll proposal with Gulf states.

Oman’s foreign minister confirmed that upcoming agreements concerning the strait will not involve any passage fees, while U.S. Energy Secretary Chris Wright said that 20 million barrels of oil passed the Hormuz corridor in the last 24 hours, with daily vessel movements rising to about 35‑40 ships, roughly three times pre‑war levels. The surge has pushed tanker charter rates to record highs and contributed to a decline in global oil prices; Brent fell to the low $70s per barrel.

Despite the diplomatic progress, security concerns persist. A Singapore‑flagged bulk carrier was damaged by an apparent drone strike near the strait; U.S. officials blamed Iran’s Revolutionary Guard, while the incident prompted the International Maritime Organization to suspend a ship‑evacuation program for stranded vessels. The IMF noted that commodity prices are easing but remain above pre‑conflict levels, underscoring ongoing market volatility.