Washington, 24 June (H.S.):

US President Donald Trump said on Tuesday that a record 19 million barrels of oil passed through the Strait of Hormuz in a single day, describing the development as a sign that global energy markets were stabilising after weeks of heightened tensions in the Middle East.

In a post on his Truth Social platform, Trump said oil prices were falling and claimed the world had become a much safer place as commercial shipping resumed through the strategically important waterway.

The Strait of Hormuz, through which nearly one-fifth of the world's oil supply is transported, witnessed severe disruption during the recent conflict involving Iran, leading to concerns over global energy security and sharp increases in crude oil prices.

On Tuesday, international oil prices continued to ease. Brent crude futures fell by 45 cents to around 77.45 US dollars per barrel, while West Texas Intermediate crude declined by 34 cents to approximately 73.52 US dollars per barrel, reflecting improving market confidence.

The latest developments follow a preliminary understanding reached between the United States and Iran aimed at reducing hostilities and allowing negotiations to continue over the next 60 days. Earlier in the conflict, Iran announced restrictions affecting traffic through the Strait of Hormuz, although US military officials maintained that the shipping route remained open for international vessels.

On Monday, the US government temporarily eased sanctions on Iranian oil exports by issuing a 60-day general licence. The measure allows transactions involving Iranian crude oil, petroleum products and petrochemicals until August 21 as part of confidence-building efforts during ongoing diplomatic negotiations.

Energy analysts said the recovery in maritime traffic through the Strait of Hormuz has helped ease immediate concerns over global oil supplies. However, they cautioned that the waterway remains vulnerable to geopolitical tensions, making continued diplomatic engagement essential for maintaining stability in international energy markets.

While the recent decline in oil prices has offered relief to consumers and businesses, experts noted that long-term market stability will depend on the successful implementation of the ongoing negotiations between Washington and Tehran and the uninterrupted flow of commercial shipping through the Gulf.

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Hindusthan Samachar / Jun Sarkar