After the ceasefire, Trump makes another move: US "on standby" to clear the 130 million barrels of stranded oil in Hormuz to flow into the market.
U.S. President Donald Trump said on Wednesday that the United States will assist in addressing the increasingly congested maritime traffic issues in the Strait of Hormuz.
US President Donald Trump said on Wednesday that the United States will assist in addressing the growing congestion of shipping traffic in the Strait of Hormuz. Earlier, Trump reached a two-week ceasefire agreement with Iran on Tuesday, with less than two hours remaining before his deadline for Iran to reopen the strait or face strikes on civilian infrastructure.
Trump stated that the premise of the last-minute agreement is that Iran has agreed to stop blocking oil and gas supplies through the Strait of Hormuz. The strait typically carries about one-fifth of global oil transportation.
"We will be loading up various things and also waiting nearby to make sure that everything goes smoothly," Trump said. "There will be a lot of positive actions! Big money will be earned. Iran can begin the process of rebuilding."
Trump claimed that the United States achieved a "total and complete victory" after reaching the two-week ceasefire agreement with Iran.
The temporary ceasefire and reopening of the Strait of Hormuz will allow Middle Eastern export countries to transport large quantities of oil that have been stuck in the Persian Gulf since hostilities began.
According to data from the analysis company Kpler, there are currently about 200 oil tankers in the region carrying approximately 130 million barrels of crude oil and 46 million barrels of refined petroleum.
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