Oil Falls as Supply Starts Moving Through Strait of Hormuz
Vance said 12.5 million barrels moved through the strait in one night as gas prices fell below $4 a gallon.
- On Thursday, Vice President JD Vance defended the Trump administration's memorandum of understanding with Iran, touting restored oil flows through the Strait of Hormuz and falling gas prices below $4 per gallon.
- Vance noted that U.S. military action weakened Tehran, destroying substantial ballistic missile infrastructure and creating leverage to demand fundamental changes including a real inspections regime.
- According to Vance, 12.5 million barrels of oil moved through the Strait of Hormuz on Wednesday night, described as a high since the conflict began.
- Regarding the Strait of Hormuz, the 60-day memorandum of understanding envisions no tolls on international waterways, with Oman and Gulf partners working toward a long-term security framework.
- Critics question the deal's durability, but Vance urged confidence in President Donald Trump's approach, stressing that no funds will flow to Hezbollah or Iran without full compliance.
19 Articles
19 Articles
For over a hundred days, Hormuz's road was blocked, but while analysts feared a dramatic price jump, the global economy was spared. Catherine Bosley, NZZ Pro's editor, explains the background.
Channel News Asia
Business RecorderOil falls as supply starts moving through Strait of Hormuz
PERTH, June 19 : Oil prices fell on Friday on the prospect of more supply returning to the market after oil tankers began to move through the Strait of Hormuz following the signing of the U.S.-Iran interim peace deal.Brent crude futures fell 54 cents, or 0.68 per cent, to $78.31 a barrel as of 0146 GMT. U.S.
The Strait opens after the agreement signed by Iran and the United States On the mine clearance, the regime slows down the "volunterosi": "No foreign service"
Vance defends Trump Iran deal: Oil flows freely, gas prices drop below $4 as Tehran faces strict conditions
WASHINGTON — Vice President JD Vance on Thursday defended the Trump administration’s memorandum of understanding with Iran, touting restored oil flows through the Strait of Hormuz, falling gas prices and a framework aimed at curbing Tehran’s most dangerous capabilities while denying the regime any U.S. taxpayer dollars. Speaking at a White House press briefing, Vance… The post Vance defends Trump Iran deal: Oil flows freely, gas prices drop belo…
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Vance Says Trump’s Iran Deal Is Lowering Gas Prices and Restoring Oil Traffic Through Hormuz
Vice President JD Vance said the Trump administration’s agreement with Iran is already producing economic and security gains, citing increased oil movement through the Strait ... The post WATCH: Vance Says Trump’s Iran Deal Is Lowering Gas Prices and Restoring Oil Traffic Through Hormuz first appeared on [your]NEWS.
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