Oil prices dip as Iran says Strait of Hormuz is open again
Oil prices dip as Iran says Strait of Hormuz is open again
Iran declares the Strait of Hormuz fully open for tanker passage, signaling new transit rules and shaking up Middle East tensions and energy markets.
Iran says the Strait of Hormuz is completely open again for tanker passage, after a period of reimposed restrictions tied to the ongoing regional conflict and accusations that the United States violated a deal to reopen the chokepoint. The claim comes as Tehran asserts its control over the strait’s management and security, signaling a potential shift in how ships transit the critical waterway that links the Persian Gulf to global markets. Iran also rejects a traditional toll but plans to implement transit fees to regulate ship movement through Hormuz. Friendly vessels would be permitted, while hostiles—including military vessels from the United States and Israel—could be denied entry, a stance that underscores Iran’s insistence on sovereign control over the strait.
