Iran and Oman are drafting a potential agreement regarding the management of the Strait of Hormuz, a vital maritime chokepoint for energy transit. U.S. President Donald Trump firmly opposes any Iranian control and fee imposition on the strait. Negotiations between the two countries cover shipping routes and possible service fees, but remain conditional on the U.S. lifting sanctions. Market participants currently price the probability of the U.S. charging its own Hormuz passage fees at just 1.8% by August 31, 2026.
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