Gulf States/Economy/US and Iran tensions rise over Strait of Hormuz shipping fees

US and Iran tensions rise over Strait of Hormuz shipping fees

May 21, 20265 sources

Also covers:IranUnited States

Summary

The US and Iran are escalating tensions over the Strait of Hormuz, with President Trump demanding Iran not charge shipping fees. Meanwhile, OPEC+ is expected to increase oil output in July despite disruptions in the strait. The standoff has led to ship congestion in the key waterway.

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OPEC+ leaders expected to up July oil output target despite Hormuz disruption, sources say

May 21

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