US Vice-President JD Vance on Thursday (local time) said that 12.5 million barrels of oil transited through the Strait of Hormuz overnight, marking the highest volume since the start of the Iran conflict, and credited President Donald Trump’s peace deal for easing tensions, stabilising energy markets and restoring maritime traffic in the region.
Briefing the members of the media, Vance said the administration’s peace plan with Iran was already delivering tangible benefits for Americans, pointing to falling oil and gas prices and improved security in one of the world’s most critical shipping lanes. “The president’s peace plan in Iran is already bearing real fruits for the American people. Last night, 12.5 million barrels of oil went through the Strait of Hormuz, which is a high since the beginning of the conflict,” Vance said.
He added that oil prices had nearly returned to pre-conflict levels, while gasoline prices had dropped below US$4 per gallon for the first time since the conflict began. He said,” Oil prices are down nearly to their level from the pre-war conflict, gas prices dropped below US$4 a gallon today for the first time since the conflict, and importantly, they’re going to keep falling further given how low oil prices are.”
ANI
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