U.S. Oil Trade Group Rejects Strait of Hormuz Tolls Amid Gulf-Backed Voluntary Fee Plan
The American Petroleum Institute (API) has publicly opposed establishing tolls or transit fees for vessels transiting the Strait of Hormuz, after a Gulf-backed proposal reportedly offered Iran the option to collect voluntary fees. API CEO Mike Sommers warned against endorsing a new tolling authority, particularly one linked to the threat of further…