US President Trump stated that Iran has informed the United States that it has no intention of levying tolls or other fees on maritime traffic passing through the Strait of Hormuz, and the US and Iran are in contact regarding the safe passage of commercial vessels.
As market expectations grow that the Strait of Hormuz will remain open, US oil prices fell below $70 per barrel on Wednesday, while Brent crude dropped 4.6% to $73.5 per barrel, both hitting their lowest levels since the US-Iran conflict.