Chinese supertankers exit Hormuz as Trump, Vance talk up Iran deal

Key points

• Oil prices ease amid the latest comments from the White House, but experts warn they will remain high even after a deal.
• Two Chinese oil tankers have left the Strait of Hormuz after waiting in the Gulf for more than two months, as the United States president and vice president claim a deal to end the US-Israel war on Iran is imminent.
• Shipping data from LSEG and Kpler showed that the two supertankers – Chinese-flagged Yuan Gui Yang and Hong Kong-flagged Ocean Lily – navigated out of the waterway, carrying about 4 million barrels of crude.
• South Korean Foreign Minister Cho Hyun, meanwhile, told a parliamentary hearing in Seoul that a Korean crude vessel was also passing through the Strait on Wednesday.
• Yuan Gui Yang loaded 2 million barrels of Iraqi Basrah crude on February 27, a day before the US-Israel war on Iran started, while Ocean Lily loaded 1...