Brent crude oil fell to $73.87 a barrel Thursday morning, its closest to the $70 pre-war level in almost four months, as shipping through the Strait of Hormuz cautiously resumed under a U.S.-Iran agreement struck last week. The drop came the same day Oman's government confirmed that any system it creates with Iran to manage maritime traffic will not involve imposing any transit fees, according to CBS News.
Secretary of State Marco Rubio again rejected the idea Thursday of Iran or any nation charging commercial vessels to pass through the strait. Oman's Foreign Minister Sayyid Badr bin Hamad Al Busaidi made the announcement after meeting with fellow top diplomats, offering a degree of reassurance to shipping companies that had been uncertain about the costs of resuming operations in the waterway.
The situation on the water remained complicated. Tracking data from MarineTraffic.com showed three oil tankers heading toward the strait on a southern route that hugs the coast of Oman turn back in the other direction Thursday. Three other ships that had also been on the southern route appeared to divert to the north, toward the route designated by Tehran that skirts the Iranian coast.
Iran's powerful Revolutionary Guard Corps insisted Thursday that all ships should only use the northern route, and in coordination with Iranian authorities. The IRGC's position conflicted with recent practice. Maritime intelligence firm Lloyd's List said earlier that many ships had started using the Omani route in recent days.
On Capitol Hill, the Senate rejected a measure Wednesday aimed at restricting President Trump's power to wage war against Iran. The vote came just one day after Trump publicly criticized senators for approving a separate resolution with the same goal. CBS News reported that Trump clashed with GOP senators during a tense meeting Wednesday over the Iran war and the SAVE America Act, and he canceled the signing of a bipartisan housing bill while reiterating demands to pass that legislation.
In Lebanon, an Israeli drone strike killed three people Thursday when it hit a vehicle on the road between Zawtar and Mayfadoun, Lebanon's state-run National News Agency reported. "Three people were killed and one person was wounded when an enemy drone targeted a ... vehicle on the road between Zawtar and Mayfadoun," the agency said. It was the third deadly incident since Tuesday, bringing the number killed in Israeli attacks that week to seven. Israel said the previous strikes targeted Hezbollah members who posed a threat to its forces operating in southern Lebanon. Lebanese and Israeli officials were meeting in Washington this week for a fifth round of direct negotiations.
