Trump says Iran allowed 10 oil tankers through Strait of Hormuz amid ongoing talks

US President Donald Trump stated during a Cabinet meeting at the White House that Iran permitted the passage of 10 oil tankers through the strategically crucial Strait of Hormuz, describing it as a “very big present” amid ongoing diplomatic engagements.

Trump referred to recent media coverage showing several oil tankers, including vessels flagged from Pakistan, moving through the Iran-controlled waterway. He suggested that the development signals that Iranian negotiators are acting in good faith.

The Strait of Hormuz, a vital artery for global energy supply, typically handles around 20% of the world’s traded oil and natural gas. However, shipping activity has dropped sharply since tensions escalated, with Iran targeting commercial vessels and rising insurance costs discouraging transit.

US Treasury Secretary Scott Bessent said efforts are underway to stabilize maritime trade in the region. He highlighted measures such as military protection and a $20 billion maritime insurance initiative introduced by the US International Development Finance Corporation to support safe passage for oil shipments.

Bessent added that Washington is working to counter Iran’s attempts to exert control over global trade through the chokepoint, expressing confidence that supply disruptions will be overcome.

He also projected that energy prices and inflation could decline once US objectives in Iran are achieved, though no clear timeline has been set.

Trump further claimed that US operations are progressing faster than expected, noting that goals such as weakening Iran’s naval and missile capabilities are ahead of schedule.