Iran is introducing a new system for the Strait of Hormuz. Commercial ships and nations cooperating with Tehran will receive priority passage. Specialized services will incur fees. This move comes amid rising Gulf tensions and concerns over global energy supplies. Several oil and gas carriers are already transiting the vital waterway.

Iran's Deputy Foreign Minister discusses a new protocol for shipping costs in Hormuz amid tensions with neighboring BRICS countries.

DUBAI: Iran has begun allowing some Chinese vessels to transit through the Strait of Hormuz following an understanding over Iranian management protocols for the waterway, the…

More oil tankers are navigating the Strait of Hormuz. This offers some relief to the global oil market. Several ships carrying crude oil have exited the waterway recently. Some…