Three Saudi-flagged supertankers transporting some 6 million barrels of crude sailed through the Strait of Hormuz on Thursday, hours after U.S. President Donald Trump signed a deal with Iran to end the war that has rattled global energy markets.
Oil prices also eased further, but in Lebanon, where more than a million people are displaced by the fighting, Israeli forces launched fresh airstrikes on Thursday morning, raising doubt about how far Trump will go to force his wartime allies to halt an offensive he has now pledged to end.
Trump put his signature on Wednesday on the "memorandum of understanding" to end the war, as did Iran's President Masoud Pezeshkian, bringing it into effect two days earlier than previously expected.
It calls for the immediate opening of the Strait of Hormuz and lifting of a U.S. blockade of Iran's ports.
Though shippers say it will still take time for transit across the strait to reach pre-war levels, with a need yet to ensure safe access and clear mines, there were immediate signs of an impact.
