Strait of Hormuz ‘completely open’, Iran says; Stock market continues its record-setting rally

Strait of Hormuz ‘completely open’, Iran says; Stock market continues its record-setting rally

At least eight oil tankers raced toward the Strait of Hormuz in the hours after Iran’s foreign minister said the vital waterway was fully open to shipping.

Five of the carriers, which had been anchored north of Dubai, were moving into the waterway on Friday afternoon, soon after Iran’s foreign minister said it was completely open, vessel tracking data shows. Three more, which were waiting about 110km west, have also begun moving in the direction of the strait.

Oil tankers and cargo ships lined up in the Strait of Hormuz during its closure.AP

A Malta-flagged passenger vessel, reportedly sailing without passengers and bound for Oman, has departed Dubai after remaining docked for 47 days, according to vessel-tracker MarineTraffic.

It said the Celestial Discovery ship is expected to arrive in Oman on Saturday.

If the ships continue their voyages, their movements would be among the clearest signs yet that Hormuz might finally be opening up to shipping that isn’t connected to Iran since the war began on February 28.

Bloomberg, AP

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