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Marine traffic appears to be moving through the Strait of Hormuz as the United States and Iran continue to work through key points of a preliminary agreement within a 60-day negotiation period.
“19 Millions [sic] Barrels of Oil flowed out of the Hormuz Strait yesterday, an all time RECORD,” President Donald Trump declared on Truth Social on Tuesday.
He added, “Oil prices are tumbling down, and the World is a much safer place!!!”
According to The New York Times, 109 vessels reportedly passed through the Strait of Hormuz between Saturday and Monday, citing data from Kpler. This is a significantly lower number compared to pre-war marine traffic, the outlet said, but it remains a step in the right direction.
The transiting vessels in the Strait of Hormuz come after President Donald Trump ordered the U.S. Navy to lift its blockade of the key shipping corridor. This week, the president and key members of his Cabinet also said that Iran had agreed to allow nuclear inspectors back into their country – significant progress.
“Based on this and other major concessions being made by Iran, I have agreed to allow the Hormuz Strait to remain OPEN, with no further Naval Blockade,” the president said on Tuesday. “However, all ships are remaining in place should it be necessary to reinstitute the Blockade, which seems, at this point, highly unlikely.”
The NYT noted that a “major source of increased traffic came from Iran-linked ships carrying crude oil to Asia via the strait’s northern route, near Larak Island.”
On Monday, the U.S. Treasury issued a temporary 60-day license allowing Iran to sell crude and petrochemicals, RSBN previously reported. “In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country,” Treasury Secretary Scott Bessent said on X. “As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.”
President Trump told reporters on Tuesday that the U.S. was “doing very well with Iran.”
“They’ve been decimated, and we’re making a deal with them, and we’ll see how that all goes,” he stated. “Right now, as you probably heard, yesterday… we had 19 million barrels of oil come off—and that’s the biggest in the history of the Strait, the Hormuz Strait.”
Oil prices on Tuesday fell to around $73 per barrel, marking the lowest price on crude since the start of the war with Iran. “The big thing is, Iran will not have a nuclear weapon,” the president added.