Iranian Oil Exports Resume Ahead of Key US-Iran Peace Talks

Email:online@newsofbahrain.com

Tehran: Iranian oil exports have resumed for the first time in two months, with several tankers carrying nearly 5 million barrels of crude crossing the US blockade line near the Strait of Hormuz ahead of fresh negotiations between Washington and Tehran.

Shipping data showed multiple Iranian tankers leaving the restricted zone as both countries prepare to begin talks in Switzerland on Friday aimed at securing a permanent settlement following their recent war.

The negotiations are expected to focus on Iran's nuclear programme, sanctions relief and broader security issues. Under a framework agreement reached earlier, the United States is expected to allow Iran to resume oil sales and related financial, transport and insurance services once a formal memorandum is signed.

The reopening of the Strait of Hormuz and the prospect of Iranian oil returning to global markets contributed to a decline in oil prices, reflecting growing optimism that tensions in the region may ease.

Officials from both countries hope the upcoming 60-day negotiation process will lead to a long-term agreement and further economic relief for Iran.

Pic Credit: AFP