LNG Tanker Stuck For 3 Months Heads To Hormuz After US-Iran Peace Deal

Summary

A liquefied natural gas tanker that was stuck in the Persian Gulf for over three months is now heading toward the Strait of Hormuz, following a deal between the United States and Iran to reopen the vital waterway. The tanker, which picked up a shipment from Qatar's Ras Laffan facility around March first, is moving into the eastern arm of Hormuz, toward the Gulf of Oman. The US and Iran's agreement to halt the war and resume traffic through the strait is expected to ease a supply crunch that has kept gas prices elevated since March.