Trump: Oil Tankers Moving Out of Strait of Hormuz After Iran Deal
Trump says ships loaded with oil are starting to move out of the Strait of Hormuz along a southern route after the announced US–Iran deal, with the strait set to be fully open by Friday.
President Donald Trump said Monday that ships loaded with oil are starting to move out of the Strait of Hormuz, the first visible signs of traffic returning to the chokepoint after the announced US–Iran deal.
What Trump said
“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz. They are going along the Southern ‘Highway,’ which is totally safe, secure, and pristine,” Trump wrote on Truth Social.
The post came shortly before Trump arrived in France for the G7 Summit. Trump said the Strait of Hormuz would be “completely open” by Friday, though official details of the plan to reopen the strait have not been released.
Why this matters for oil
The Strait of Hormuz is the narrow waterway used to ferry one-fifth of the global oil supplies. Any sustained reopening removes a major risk premium that has been hanging over crude since the conflict started.
About 20% of global petroleum supplies, or 20 million barrels per day, passed through Hormuz before the US and Israel attacked Iran on Feb. 28. Traffic through the strait plunged after Iran retaliated by attacking ships and mining the sea lane, and the effective closure of Hormuz has led to the loss of more than 1 billion barrels of oil, the largest supply disruption in history.
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The deal backdrop
Earlier, Trump announced that the US and Iran have finalised a deal to end their 107-day war, which triggered a global energy crisis. Vice President JD Vance said Washington and Tehran had already “signed the deal digitally” on Sunday, adding that any sanctions relief for Iran would depend on its compliance with the terms of the agreement, including measures related to its enriched uranium stockpile and verification mechanisms.
Iran has not confirmed the US assertion that both sides have ‘digitally’ signed an initial deal, which has not been released. That gap between rhetoric and confirmation is the key risk for any positioning into the open.
The price picture
Trump credited earlier clandestine exports with keeping oil prices around $90 per barrel instead of surging above $200. A full reopening would mechanically remove that scarcity bid, but traders should watch whether flows actually normalize or whether incidents along the route resurface.
For more market headlines, keep an eye on tanker tracking data and any Iranian readout of the agreement.
Options market and stocks to watch
USO: Watch for downside pressure on the crude ETF if barrels start flowing again at scale.
XOM and CVX: Watch the majors for unwind of any Middle East risk premium baked into shares.
FRO and TNK: Watch tanker names for two-way action; resumed traffic helps volumes, but spot rates that spiked on the closure could fade.
UNG: Watch natural gas exposure given LNG also transits the strait.
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