#Freight

Oman Proposes Voluntary Fee System for Strait of Hormuz Transit, Backed by Gulf States

Oman has presented Iran with a Gulf-backed plan to manage the Strait of Hormuz through voluntary transit fees, similar to the Strait of Malacca model. The proposal aims to resolve trade disruptions caused by the U.S.-Israeli conflict with Iran. President Trump suspended a two-week bombing campaign and expressed optimism for negotiations, though threatening to resume strikes if talks fail. Oil prices fell around 8% following the bombing halt.