India’s Petronet sent a liquefied natural gas tanker through the Strait of Hormuz, the only shipment on Monday since the United States and Iran reached a peace deal to reopen the strategic waterway, shiptracking data showed.
The limited traffic underscores wariness among shippers who have welcomed the deal but are still waiting for more details — including mine clearance in the strait — before allowing their vessels to pass through.
Global oil prices fell about 4 percent on Monday as the United States and Iran are expected to sign the memorandum of understanding on Friday in Switzerland which will outline steps taken to resume shipping through the strait.
The US-Israeli war with Iran that began on February 28 has largely stopped shipping through the strait, the transit route for roughly a fifth of the world’s oil and liquefied natural gas supply, along with vital products such as aluminum and urea.
LNG tanker Disha picked up its cargo at Qatar’s Ras Laffan on March 1-2 and had been west of the strait since, data from Kpler and LSEG showed.
