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19 Million Oil Barrels Crossed Hormuz Strait on Monday, Trump Says

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US President Donald Trump on Tuesday said about 19 million barrels of oil transited through the Strait of Hormuz waterway on Monday.

"19 millions barrels of oil flowed out of the Hormuz Strait yesterday, an all time [record]. Oil prices are tumbling down, and the world is a much safer place!!!," Trump wrote on Truth Social.

The Hormuz Strait, which handles about 20% of global energy flows, was effectively closed since early March after the start of the Iran warn, causing a global energy supply crisis.

Stating that peace talks between the two countries were going well, Trump said Iran has "fully and completely agreed to highest level nuclear inspections long into the future," and that negotiations would not continue if Iran did not agree to it.

"Based on this and other major concessions being made by Iran, I have agreed to allow the Hormuz Strait to remain open, with no further Naval Blockade. However, all ships are remaining in place should it be necessary to reinstitute the blockade, which seems, at this point, highly unlikely," he added.

The British Broadcasting Corporation began reporting around the time of Trump's posts that Iran has denied any firm commitment to nuclear inspections.

Trump further noted that the funds being released by the Department of Treasury will be held in escrow and controlled by the US and used only to buy food and medical supplies from US suppliers, including corn, wheat, and soybeans from US producers.

"These are things that are desperately needed by Iran. This is a humanitarian crisis, and I feel it is necessary to help, now, before it is too late," he added.

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