Gulf nations resist Strait of Hormuz toll proposal

Gulf nations are unlikely to agree to a toll plan for safe passage through the Strait of Hormuz, according to conversations with representatives from those countries. Such a pay-to-ship arrangement would frustrate them. Iran and Oman claim to be close to a joint shipping corridor deal, but neither legally controls the international waterway. Meanwhile, the U.S. is escalating economic pressure on Iran through "Operation Economic Outcast," while quietly removing Syria's terrorism designation. The Syria move could ease investment for firms like Chevron and ConocoPhillips in Iraqi pipelines. Citigroup sees Brent potentially falling to $60 with an Iran peace deal or rising to $110 if Hormuz remains unstable.