Iran Allows Select Ships Through Hormuz Strait Amid Global Energy Concerns

The more oil that heads out of the Persian Gulf, the less competition there is for barrels from the U.S., which should ease prices for everyone. | World News

Image source: Internet

Iran appears to be allowing select ships through the Strait of Hormuz, freeing a trickle of oil and gas that has helped to keep a lid on global energy prices.

Karachi, a crude-oil tanker flying under the Pakistan flag, sailed through the strait on Sunday while broadcasting its location, becoming the first non-Iranian vessel to have done so, according to ship-tracker MarineTraffic.

Maritime analysts say the passage might indicate that Iran is waving through some non-Iranian oil cargoes in negotiated safe voyages.

The safe passage of the two Indian LPG tankers followed a phone call last week between Indian Prime Minister Narendra Modi and Iranian President Masoud Pezeshkian and after India helped repatriate more than 140 Iranian nationals on a charter flight arranged by Iran.

It wasn't clear where they were sailing, but China buys most of Iran's sanctioned oil.

Traffic through Hormuz is still well below prewar levels, with around 1,100 ships including 250 petroleum tankers stuck in the Gulf.