A post by @FirstSquawk on X.

Iran has reportedly dropped its demand to control the Strait of Hormuz and to collect transit fees from vessels passing through the strategic waterway, according to Israel Hayom as cited by First Squawk. The shift removes a key point of friction over the world's most important oil chokepoint, through which roughly a fifth of global petroleum consumption is transported. The report did not specify terms, timing, or what Iran received in return, leaving the scope of the concession unclear. Traders will watch for official confirmation from Tehran and any follow-through in tanker traffic, freight rates, and crude pricing.