What happened
President Donald Trump announced that a record amount of oil was safely transported through the Strait of Hormuz. According to Trump, the amount of oil transported was more than before the war. The president also stated that oil and gas prices will decrease once Iran ends the war.
The Strait of Hormuz is a crucial waterway that previously transported one-fifth of the world's oil before the war started. The conflict between the United States and Iran has lasted over seven months, with Iran attempting to disrupt oil and gas transport through the strait.
U.S. Central Command (CENTCOM) has made progress in reopening the waterway, facilitating the safe transport of over one billion barrels of crude oil through the Strait of Hormuz in recent months. CENTCOM has also assisted over 2,000 commercial ship transits through the strait by providing coordinated protection.
Trump rejected Iran's latest proposal to end the conflict, stating that the deal would not be acceptable. The proposal was pitched via Qatari mediators on the sidelines of the U.N. General Assembly meeting in New York.
