Iran announced a waiver of maritime dues and security insurance costs for all merchant ships passing through the Strait of Hormuz during the 60-day negotiation period with the United States (US). The Persian Gulf Strait Authority management set a condition that each ship is required to submit a route schedule and transit application at least 48 hours before arrival to ensure safe navigation.
Although the opening of the strait is going smoothly, the projected status of future fee collection is still shrouded in uncertainty due to differences in interpretation of terms. President Donald Trump insisted that the strategic passage must be free of any form of tolls permanently, while Tehran signaled its readiness to charge commercial maintenance services after the interim period ends.
In a separate development, the Swiss Foreign Ministry confirmed that the planned nuclear roundtable talks at the Bürgenstock resort on Friday have been abruptly canceled. The postponement came after US Vice President JD Vance canceled his scheduled technical visit to Europe due to the failure of both sides to reach an initial agreement on logistics.
The postponement of the extended peace talks has sparked fresh concerns in commodity futures markets over the viability of the 14-point peace deal signed this week. In addition to the nuclear issue, the military crisis in Lebanon involving Israel's continued attacks on the Hezbollah militia has become a major stumbling block following Tel Aviv's rejection of the Washington-sponsored draft peace plan.
Market reactions saw Brent crude prices hovering around $80 a barrel, reflecting a decline in geopolitical risk premiums after Windward recorded 18 maritime transits, the highest since the conflict began in February. However, major central banks including the ECB and BoJ remained on a cautious note by raising interest rates to curb the impact of the previous energy inflation chain.
