President Trump posted on Truth Social on 24 June 2026 that Iran has confirmed no tolls, insurance surcharges, or transit fees are being imposed on vessels passing through the Strait of Hormuz, and denied that any U.S. funds have been released to Iran. The statement followed a related announcement on 23 June 2026 in which Trump indicated that frozen Iranian assets, once released, would be controlled by the U.S. and restricted exclusively to purchases of food and medical supplies from American sources. Shipping traffic through the Strait has reportedly increased modestly following these statements, though volumes remain below pre-war levels.
The Strait of Hormuz is a critical chokepoint for global crude oil flows, and Brent crude futures (BZ) and WTI crude futures (CL) are the primary benchmark contracts reflecting supply conditions tied to Persian Gulf transit. Any confirmed disruption or cost imposition on tanker passage would directly affect the pricing of these contracts; Trump's denial of toll imposition addresses a specific risk factor that had been in focus for these markets.
Trump also stated on 24 June that the U.S. plans to direct a portion of unfrozen Iranian assets toward purchases of agricultural products from American farmers, identifying grain and crop exports as a prospective channel for the restricted funds. This framing is consistent with the 23 June announcement restricting Iranian use of released assets to U.S. food and medical supply purchases, with Trump describing the arrangement as part of ongoing peace negotiations reported by both parties to be progressing.
Sources: Finnhub, Bloomberg Markets