US and Iran negotiate to reopen shipping lanes, Iraqi tankers exit

Bloomberg-compiled shipping tracking data shows that the supertanker Eagle Verona has entered the Arabian Sea from the Gulf of Oman, carrying approximately 2 million barrels of Iraqi crude oil heading to Ningbo Port in China, with an expected arrival date of June 12th. Since the closure of the Strait of Hormuz in late February by the United States and Israel's attack on Iran, most vessels have been overstaying in the area, and this departure across the U.S. blockade line has attracted significant attention from the crude oil market. In addition, the LNG vessel Al Hamra is also delivering the first batch of liquefied natural gas to India since the outbreak of conflict.

Currently, the United States and Iran are negotiating to end the conflict and reopen the Strait of Hormuz. A senior U.S. official stated that the two sides are close to reaching an agreement; President Trump previously claimed that the peace agreement has largely been negotiated, but Iran's Fars News Agency refuted this claim as far from reality. Despite divergences in diplomatic statements, there is a noticeable easing in the passage of commercial vessels. Iran's Students News Agency, citing a statement from the Islamic Revolutionary Guard Corps Navy, reported that 33 commercial vessels have passed through the Strait of Hormuz with their authorization in the past 24 hours.

Meanwhile, the military blockade and adjustments in business supply chains continue to be intertwined. The U.S. Central Command confirmed that the U.S. Navy has implemented a six-week blockade on Iranian ports since mid-April, guiding a total of 100 commercial vessels. The Eagle Verona, which is sailing this time, is owned by Singapore-based Malaysian enterprise AET Inc PTE Ltd, which is part of the MISC Group and PETRONAS Group. As U.S.-Iran peace talks progress, the ongoing passage of this core shipping lane will continue to influence international energy supply.