Trump’s Iran Deal Kicks in as Focus Shifts to Hormuz Flows
Ships carrying nearly 10 million barrels of oil are moving through the Strait of Hormuz as Iran grants 60 days of free passage.
- Shipping activity through the Strait of Hormuz resumed Friday as the interim U.S.-Iran deal took effect, with Vice President JD Vance reporting tankers carrying more than 12 million barrels crossed overnight.
- President Donald Trump signed the memorandum of understanding at the Palace of Versailles near Paris on Wednesday, posting on Truth Social Thursday that "oil is flowing" to emphasize ending the war.
- Iran will arrange commercial passage with "no charge for 60 days only," President Masoud Pezeshkian published Thursday, as vessels carrying nearly 10 million barrels have appeared outside the strait including Saudi-owned tankers.
- Markets remain cautious as major shipping lines have yet to resume transits and insurance rates stay elevated, with market analyst Tiago Lacerda telling CNBC that Brent is down 36% from peak levels.
- Focus shifts to a complex 60-day negotiating period over Tehran's nuclear program, though Sen. Ted Cruz, a Texas Republican, stated "History teaches us giving billions of dollars to theocratic lunatics who want to murder us is not a good idea.
19 Articles
19 Articles
Traffic Flows Through Strait of Hormuz as US-Iran Peace Deal Takes Effect
WASHINGTON/DUBAI: Oil tankers sailed through the Strait of Hormuz and the United States said it lifted its blockade on Iran on Thursday as an interim deal to end the war took effect, though key issues are still unresolved between the two countries.Oil prices dropped to their lo
Traffic flows through Hormuz as US–Iran deal takes effect, but doubts linger as Khamenei warns talks will not be easy
Oil hits lowest level since March 2Vance warns Israel after strikes in Lebanon Khamenei signals upcoming talks will not be easy WASHINGTON, June 19 — Oil tankers sailed through the Strait of Hormuz and the United States said it lifted its blockade on Iran yesterday as an interim deal to end the war took effect, though key issues are still unresolved between the two countries.Oil prices dropped to their lowest level since March 2, as analysts sa…
Former IEA chief says world faces a ‘third oil shock’ despite US-Iran deal
The NewsWhen Iran forced closure of the Strait of Hormuz last March, the world held its breath. When the waterway reopens today — assuming the US-Iran deal holds — many will exhale and celebrate the crisis’ end.Nobuo Tanaka thinks that would be a mistake.“This is the third oil shock,” the former executive director of the International Energy Agency told Semafor earlier this week. “Just as the first and second oil shocks made a huge impact on the…
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