Frontline CEO Sees Hormuz Tanker Traffic Rising Quickly if U.S. and Iran Strike a Deal (FRO:NYSE)

Shipowners on Edge for News on Hormuz as Dark Flows Keep Rising

(Bloomberg) — Shipowners are watching warily for a peace deal between the US and Iran and what it would mean for the Strait of Hormuz, with some tanker owners expressing caution, while others were already predicting a frantic free-for-all if the waterway opens in earnest.

Oil Slides As Traders Price In A Hormuz Reopening

Crude dropped on Thursday as the prospect of a deal eased fears about Middle East supply. West Texas Intermediate settled down 2.6 percent at 87.71 dollars and Brent fell 2.9 percent to 90.38, with both sliding further toward 86 dollars after hours. A signed agreement would reopen the Strait of Hormuz, the chokepoint for about a fifth of the world's oil that has been effectively closed for months. For now the relief is on paper, since the strait…

Frontline CEO sees Hormuz tanker traffic rising quickly if U.S. and Iran strike a deal (FRO:NYSE)

Oil tanker traffic through the Strait of Hormuz should quickly increase if the US and Iran reach a credible deal that improves security in the strait, Frontline CEO Lars Barstad told CNBC.

Oil tanker CEO sees Hormuz ship traffic quickly increasing if U.S. and Iran reach a deal

Many shipowners are just waiting for the threat assessment to be downgraded before crossing Hormuz, Frontline CEO Lars Barstad said.