LNG Tanker Crosses Strait of Hormuz as US-Iran Agreement Takes Effect
9 Articles
9 Articles
US gives blunt warning to Israel as ships begin moving through Strait of Hormuz
The US has lifted its blockade of Iran, and oil tankers began freely moving through the Strait of Hormuz after months of being unable to use the critical channel, as the tentative agreement to end the war took effect.
The first oil tankers crossed the Strait of Bermuda on Thursday after the entry into force of the protocol signed by the United States and Iran for the cessation of the war that disrupted global energy supply. While the agreement already had visible effects on maritime traffic and oil prices, the new Israeli attacks in Lebanon raise questions about the chances of sustainable stabilization in the Middle East.
US-Iran peace deal revives oil shipping through Strait of Hormuz: 5 things to know
While the resumption of tanker traffic is likely to ease pressure on energy prices, shipping and insurance industries are waiting for greater security guarantees before declaring the crisis over.
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