Trump Cites ‘Good News’ as First Oil Tanker Convoy Crosses Strait of Hormuz Since War Began

President Trump cites progress in Iran talks as the first tankers cross the Strait of Hormuz, but warns the ceasefire may end Wednesday without a nuclear deal.

By: AXL Media

Published: Apr 18, 2026, 5:45 AM EDT

Source: Information for this report was sourced from Reuters

A Milestone in Maritime Passage

The de facto blockade of the world’s most critical energy artery showed its first signs of fracturing on Saturday as a convoy of liquefied petroleum gas (LPG) carriers and chemical tankers crossed the Strait of Hormuz. According to MarineTraffic data, the vessels passed south of Larak Island in Iranian waters, signaling the first significant flow of maritime trade since the U.S. and Israel launched their military campaign against Iran on February 28. The reopening of the strait, which historically carries 20% of the world’s oil, triggered a 10% drop in global oil prices and a surge in international stock markets as investors bet on a de-escalation of the seven-week conflict.

Trump’s Ambiguous Optimism and Red Lines

Speaking to reporters aboard Air Force One, President Donald Trump cited "some pretty good news" regarding the situation in the Middle East, though he declined to provide specific details on the progress of the talks. Despite his positive tone, the President maintained a hardline stance on the primary U.S. objective: ensuring Iran never acquires a nuclear weapon. "Many of these things have been negotiated and agreed to," Trump stated, emphasizing that the nuclear issue supersedes all other diplomatic considerations. However, he balanced this optimism with a stern warning, noting that he is prepared to let the current ceasefire expire on Wednesday if a long-term "transaction" is not finalized.

Contradictory Signals on Iranian Assets

A significant point of contention has emerged regarding the financial terms of a potential peace deal. While senior Iranian officials informed Reuters that an agreement had been reached to unfreeze billions of dollars in Iranian assets as part of the accord, President Trump explicitly denied this during a campaign rally in Arizona. The President insisted that "no money will exchange hands in any way, shape or form," characterizing the potential agreement as a transactional settlement rather than a traditional diplomatic treaty. This public discrepancy suggests that the "gaps" mentioned by Iranian sources remain a significant hurdle in the Islamabad-based mediation efforts.