Iran says it will soon launch a designated traffic-management mechanism for the Strait of Hormuz, giving priority to commercial vessels and parties cooperating with Tehran. Iranian officials also say specialised services tied to the plan will require “necessary fees,” while routes will remain closed to operators linked to the “Freedom Project.” The announcement lands as tensions between Iran, the US, and Israel persist and major oil, LPG, and LNG carriers continue cautious transit, sometimes with transponders switched off.
Iran is racing against time as shrinking oil storage capacity meets a tightened US-led blockade affecting exports through the Strait of Hormuz. With unused storage dwindling, Iran may be forced to cut production, while neighboring exporters also trim output. The pressure is feeding into a global oil price rally, though Iran’s full revenue hit may arrive later.
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