Lates News

Within hours of Iran's foreign minister announcing that the Strait of Hormuz was fully open for shipping, at least eight oil tankers swiftly headed towards the strait. Ship tracking data showed that five of these tankers, which had been anchored north of Dubai, began entering the waterway on Friday afternoon local time shortly after Iran's foreign minister declared the strait fully open. The other three tankers, which had been waiting about 70 miles to the west, have also started moving towards the strait. If these vessels continue their journey, their movements will be one of the clearest signals since the outbreak of war on February 28 that the Strait of Hormuz may finally be open to non-Iranian related shipping. Despite reports in Iranian media that the country is still trying to impose restrictions, these tankers continue to move.