Vessels at the Strait of Hormuz, as seen from Musandam, Oman, Monday. Reuters-Yonhap
TOKYO/COPENHAGEN — Shippers in Asia and Europe said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation will only restart once safety is assured, after the U.S. and Iran agreed a framework deal to reopen the waterway. U.S. and Iranian officials are expected to sign a memorandum of understanding to end their war and reopen the strait on Friday.
Global oil prices fell about 5 percent on Monday in response. President Donald Trump said in a Truth Social post that ships loaded with oil are starting to move out of the strait, "going along the Southern 'Highway,' which is totally safe, secure, and pristine".
There were no significant tanker crossings visible in vessel-tracking data on Monday, aside from one LNG carrier, however ships have been quietly moving barrels along Oman's coast for weeks, sailing "dark" with U.S. navy support.
The data, which captures only vessels actively transmitting their positions, showed dozens of tankers clustered on both sides of the Strait of Hormuz.
