Washington: US President Donald Trump has made a significant claim, saying that a record 19 million barrels of crude oil moved through the Strait of Hormuz on Monday. According to President Trump, the shipment of such a large quantity of crude oil through this sea route in a single day is the largest ever recorded in the history of global oil trade.
Military tensions in the region have significantly eased following the historic peace agreement between the United States and Iran on June 17. While oil tankers previously avoided this route due to fears of war and seizure, commercial ships and oil tankers have now resumed full use of the route since the easing of tensions.
The safe passage of record quantities of oil through the Strait of Hormuz has brought a significant sigh of relief to the global energy market. This massive and uninterrupted supply of crude oil will help stabilize international oil prices, which is expected to provide significant economic relief to major importing countries, including India.
