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President Trump said Iran has told the United States that it did not seek or charge fees, insurance fees, or any other form of payment from ships passing through the Strait of Hormuz, following which oil prices fell further. Brent crude and WTI crude both dropped more than 3%. Traders became more optimistic at his remarks, believing that the supply through the Strait of Hormuz would gradually return to normal and the supply from major Gulf oil-producing countries would soon be restored.