Crude comeback: 20 million barrels leave Iran port after peace breakthrough

AI Summary

Iran’s oil exports surged with 20 million barrels exported via 11 tankers through the Gulf of Oman following a peace breakthrough with Washington. However, regional clashes have delayed permanent peace talks, casting uncertainty on the long-term outlook.

Iran's oil exports have surged following a peace deal with Washington, with 11 tankers carrying 20 million barrels departing the Gulf of Oman. This increase coincides with new maritime regulations for the Strait of Hormuz. However, the delay of permanent peace talks due to regional clashes casts a shadow on the long-term outlook, with lighter traffic observed on Friday.