DUBAI, United Arab Emirates (AP) — Several tankers made their way out of the Strait of Hormuz on Thursday using a new route promoted by a U.N. maritime agency. Iran has threatened vessels using the path, which runs along the coast of Oman.
The opening of an alternative passage through the vital waterway would relieve pressure on the world economy and remove Iran’s main source of leverage in ongoing talks about the interim deal signed last week with the United States.
Traffic through the strait has increased but is still well below prewar levels. Oil on Thursday briefly dipped below its last prewar price of just under $73 per barrel, a sign that the market believes the situation is improving.
The two sides are still debating terms of the deal — from getting ships through the narrow mouth of the Persian Gulf to the future of Iran’s stockpile of highly enriched uranium.
Under the memorandum of understanding, the U.S. and Iran agreed to a 60-day period to iron out the details. As talks are held behind closed doors, U.S. President Donald Trump and Iranian leaders have seemed to negotiate in public, trading threats and claiming concessions the other side denies.
The flare-up of fighting in Lebanon between Israel and Iranian-backed Hezbollah militants has meanwhile threatened the wider truce. Israel's first airstrike on Lebanon since a ceasefire took effect over the weekend killed two people on Wednesday, according to Lebanon's state-news agency.
