- EU rejects Hormuz toll idea -

The European Union said Thursday that freedom of navigation in the Strait of Hormuz must be ensured with "no payment or toll whatsoever", after Iran suggested it could charge for letting ships through the vital Gulf waterway.

"International law provides for the freedom of navigation, which means... basically no payment or toll whatsoever," European Commission spokesman Anouar El Anouni said. "Freedom of navigation is a public good and needs to be ensured."

- Oil rises, stocks fall -

The main US oil contract jumped five percent on investor concerns over the Middle East ceasefire holding and as the key Strait of Hormuz remained largely blocked to traffic.

West Texas Intermediate (WTI) rallied to $99.38 a barrel, while the main international benchmark, Brent North Sea crude, rose 4.1 percent to $98.67.

Crude futures had plunged Wednesday after the United States and Iran agreed to a two-week ceasefire, which has been placed in doubt by Israel's ongoing attacks against Iran-backed Hezbollah in Lebanon.

Major European stock markets were also down mid-session, Germany's DAX notably shedding around 1.3 percent.

- Air France extends suspensions -

Air France has extended the suspension of flights to key destinations in the Middle East until May 3, citing security risks from the war between the US and Israel and Iran.

A source close to the company said France's flagship carrier had made the decision to extend the suspensions before Tuesday's announcement of a fragile two-week ceasefire between Washington and Iran.

- First ships through Hormuz -

Traffic through the Strait of Hormuz was extremely limited Wednesday despite a fragile ceasefire announced between the United States and Iran.

At least two ships, both bulk carriers, have crossed the crucial waterway since Iran and the US said that the vital maritime passage would reopen, and a third was on course to do the same.

During the two-week ceasefire, passage through the strait "will be possible via coordination with Iran's Armed Forces", Iran's Foreign Minister Abbas Araghchi said on X.

- ExxonMobil reports production drop -

ExxonMobil disclosed a six percent drop in first-quarter petroleum production due to Middle East war-related outages, according to a securities filing.

Attacks on regional facilities in which ExxonMobil has a stake will "lower global oil-equivalent production by approximately six percent in first quarter compared with fourth-quarter 2025," the oil giant said in the filing.

- Shell sees higher profits -

British energy giant Shell said first-quarter earnings were set for a "significant" boost from oil prices soaring during the Middle East war, which nevertheless lowered its production. Results are due May 7.

Gas production is expected to be lower than at the end of 2025 because of damage to facilities in Qatar, it added.

- Trump threatens tariffs -

US President Donald Trump threatened to impose 50 percent tariffs on any country supplying weapons to Iran.

He also said in a separate post that his administration was "talking Tariff and Sanctions relief with Iran".

- Jet fuel disruptions to linger -

It will take months for jet fuel supplies and prices to normalise even with the Strait of Hormuz open, the head of the International Air Transport Association (IATA), Willie Walsh, said Wednesday.

"I don't think it's going to happen in weeks," he said.

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Air France-KLM

EXXONMOBIL

Shell