President Donald Trump reported a record-breaking oil flow through the Hormuz Strait, resulting in a significant decrease in oil prices.
Trump revealed on Truth Social on Tuesday that 19 million barrels of oil had traversed the Hormuz Strait the day before, an "all time RECORD" according to the President.
"Oil prices are tumbling down, and the World is a much safer place!!!," Trump wrote.
Read Also: Gas Prices Extend Six-Week Decline, But Strait Of Hormuz Concerns Remain A Wild Card Hormuz Risks Continue To Loom Iran's Parliament Speaker Mohammad Bagher Ghalibaf had earlier reaffirmed that Iran would retain control over the Strait of Hormuz under a U.S.-Iran agreement, adding that the waterway will not return to its "pre-war" status, while ships will be allowed free passage for 60 days under a joint administration framework with Oman.
This came after Iran's Foreign Minister Seyed Abbas Araghchi announced that the U.S. had lifted its naval blockade of the Strait of Hormuz, waiving oil export restrictions as well.
