Oil Tankers Start to Dash for Hormuz as Shipowners Seek Answers

A handful of oil tankers were racing toward the Strait of Hormuz on Friday after Iran declared it open, even as industry groups urged caution and several shipowners and traders said they needed more clarity about the status of the waterway before making any decisions.

The oil market was left reeling by a stream of headlines, after Iranian Foreign Minister Abbas Araghchi sent prices plunging with the announcement that the Strait of Hormuz was “completely open” as long as the ships followed the previously announced routes through its waters — and the statement on opening was quickly repeated by US President Donald Trump.