US-Iran Ceasefire for Two Weeks, Trump: Will Assist in Clearing Hormuz Shipping

Reuters reported that Trump, who had been pressuring Tehran to reopen the Strait of Hormuz by the deadline or face an attack on civilian infrastructure, reached a two-week ceasefire agreement with Iran less than two hours before his set deadline yesterday. Trump said this last-minute agreement was contingent on Iran agreeing to temporarily halt the blockade of oil and natural gas transport through the Strait of Hormuz, a waterway that typically handles about one-fifth of global oil transport. Trump said, "We will load all sorts of supplies and then 'stand by' to ensure everything goes smoothly." He also said, "There will be many positive actions! There will be a massive influx of funds. Iran can begin its reconstruction process." In an interview with Agence France-Presse, Trump stated that after reaching the two-week ceasefire agreement with Iran, the United States had won a "complete and thorough victory." The temporary halt to fighting and the reopening of the Strait of Hormuz will allow Middle Eastern exporters to ship out the large quantities of oil that have been stranded in the Persian Gulf since the outbreak of hostilities. According to data from the analytics firm Kpler, about 200 oil tankers are currently afloat in the Middle East, carrying approximately 130 million barrels of crude oil and 46 million barrels of refined oil. (Compiled by: Zhang Xiaowen) 1150408