First Oil Tankers Leave the Gulf via Strait of Hormuz

Three supertankers fully laden with oil passed through the Strait of Hormuz on Saturday, marking the first vessels to exit the Gulf since a ceasefire deal was established between the United States and Iran. Tehran’s previous blockade of the strait, a vital chokepoint for approximately 20% of global oil and liquefied natural gas shipments, had severely disrupted energy supplies and caused prices for Brent Crude Oil and West Texas Oil to surge since the conflict began in late February.