Trump said the US will drop its plan for a 20% fee for ships transiting the Strait of Hormuz and instead seek “trade and investment deals” with Gulf states. The change comes as Iran’s reported strikes on tanker traffic continue after a third consecutive night of US attacks aimed at degrading Iran’s ability to hit commercial shipping. Iranian state media and regional officials alleged additional incidents at the strait, while the US said it was enforcing pressure on Iran. Oil markets reacted as the policy shifted again.
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