Oil industry pleads its Hormuz case with White House

By Ben Lefebvre, Phelim Kine | 04/09/2026 12:16 PM EDT

Execs are citing treaties, sanction laws and high payments in opposing Iran’s plan to charge ships passing through the Strait of Hormuz.

Liberia-flagged tanker Shenlong Suezmax, carrying crude oil from Saudi Arabia, is seen at the Mumbai Port.

Liberia-flagged tanker Shenlong Suezmax, carrying crude oil from Saudi Arabia, is seen at the Mumbai Port in Mumbai, India, on March 12. Rafiq Maqbool/AP

President Donald Trump’s Iran peace plan is getting pushback from one key constituency: the oil industry.

Oil company executives are reaching out to the White House, Secretary of State Marco Rubio and Vice President JD Vance to protest allowing Iran to charge tolls through the strategic Strait of Hormuz as a condition of peace talks, said one industry consultant granted anonymity to discuss relations with the administration.

“Hell yes,” this person said when asked if executives were contacting the White House to protest a toll on Hormuz. ”We didn’t have to do that before — and I thought we won the war. Any place you have access to the administration, you ask, what are you guys thinking?”

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The response administrative officials were giving industry representatives “is not a cold shoulder,” this person added. “It’s more like, ‘Yeah, OK, we’ll take note.’”

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