Strait of Hormuz Eases Global Oil Crisis as Iran Announces 24-Hour Transit Services

Amid renewed war between the United States and Iran, relief is coming to the world from the Strait of Hormuz, which is showing signs of easing the global oil crisis. Iranian state TV has announced that 24-hour transit services will be provided to increase shipping traffic in Hormuz. After Iran's decision, the movement of oil and other ships through this sea route will now be non-stop day and night. This is expected to improve the supply of crude oil in the international market and stabilize prices. There is still uncertainty about the ongoing negotiations between the United States and Iran. US President Donald Trump said that he is not particularly concerned that Iran can stop the ongoing negotiations with the United States. He said that Iran has taken too long in the negotiations and preventing it from acquiring a nuclear weapon is the top priority of the Trump administration. Trump dismissed that if any major change in their strategy were to occur. He was asked about whether Iran is ready to continue negotiations with the oil markets after the news came out.