Tankers exit Hormuz as Trump, Vance talk up Iran deal prospects

Two Chinese oil tankers successfully exited the Strait of Hormuz on Wednesday, raising hopes that the conflict involving the United States, Israel, and Iran may soon ease after positive remarks from U.S. leaders and signs of renewed diplomatic efforts.

U.S. President Donald Trump said on Tuesday that the war could end “very quickly,” while Vice President JD Vance expressed optimism over ongoing discussions with Tehran aimed at ending hostilities.

“We’re in a pretty good spot here,” Vance said during a White House briefing.

Trump also revealed that he had temporarily paused a planned resumption of military action following a new peace proposal from Iran. Speaking to reporters, he said he had been “an hour away” from authorizing fresh attacks before deciding to delay the move.

The U.S. president warned that another American strike could happen within days if negotiations fail, while also claiming that Iranian leaders were eager to secure an agreement.

The conflict, which began nearly three months ago with U.S. and Israeli military operations against Iran, has severely disrupted global energy supplies and heightened tensions across the Middle East. Hundreds of tankers have been delayed in the Gulf region, while energy and shipping infrastructure have suffered damage.

The reopening of shipping routes through the Strait of Hormuz is considered critical for global oil markets, as the narrow waterway serves as one of the world’s most important routes for crude oil exports.

Shipping data from LSEG and Kpler showed that two Chinese supertankers carrying Iraqi crude oil successfully passed through the strait this month, transporting an estimated four million barrels of oil.

Oil prices declined following the positive developments, with Brent crude briefly falling to as low as $110.16 per barrel before recovering some losses.

Toshitaka Tazawa, an analyst at Fujitomi Securities, said investors remain cautious as they monitor whether Washington and Tehran can achieve a lasting peace agreement amid rapidly shifting political signals.

Despite the optimism, U.S. officials acknowledged that negotiations remain difficult due to divisions within Iran’s leadership. Vance said Washington continues to clarify its “red lines” while pursuing efforts to prevent a wider nuclear arms race in the region.

Iranian officials insisted that the pause in U.S. attacks reflected concerns over Tehran’s ability to respond militarily. Iranian state media reported that the country’s latest peace proposal includes a halt to fighting across the region, the withdrawal of U.S. forces from areas near Iran, the lifting of sanctions, and compensation for damages caused during the conflict.

Iran also reportedly requested the release of frozen assets and an end to the U.S. naval blockade.

The ceasefire between Iran and Israel, reached in early April, has largely remained in place despite recent drone incidents targeting Gulf countries, including Saudi Arabia and Kuwait.

The war has killed thousands of people in Iran and Lebanon and displaced hundreds of thousands more, while missile and drone attacks have also caused casualties in Israel and neighboring Gulf states.

Trump and Israeli Prime Minister Benjamin Netanyahu have said the military campaign aimed to weaken Iran’s regional influence, dismantle its nuclear program, and reduce its missile and drone capabilities.

However, analysts note that Iran still retains significant military capabilities, including enriched uranium stockpiles, missile systems, drones, and allied militias across the region. -Reporting by Reuters bureaux; Writing by Lincoln Feast; Editing by Raju Gopalakrishnan/Reuters