Iran will allow ships from some friendly nations to pass through the Strait of Hormuz in exchange for security fees, Al Jazeera reports

Iran's announcement to allow ships from select friendly nations to pass through the Strait of Hormuz in exchange for security fees may signal a shift in its maritime policy, potentially easing tensions in a crucial oil transit route. This development could positively impact oil prices, particularly WTI, as it may reduce fears of disruptions in oil supply, which are vital for both the EU and US markets. Watch for market sentiment around energy commodities as traders react to these geopolitical dynamics.