Iran Allows 10 Ships to Pass Through Strait of Hormuz, Oil Prices Correct

JAKARTA - Global oil prices weakened on Friday (27/3/2026) local time, after US President Donald Trump stated that Iran had allowed 10 oil tankers to pass through the Strait of Hormuz as a “gift” to the US.

This statement signals a calming of tensions in the world’s most vital energy shipping route.

Brent crude oil prices fell 0.6% to $107.36 per barrel, while US West Texas Intermediate (WTI) crude prices corrected 0.8% to $93.72 per barrel.

“They said, ‘to show that we are serious and solid, we will let eight oil ships sail,’” Trump said, referring to the Iranian side’s statement, citing CNBC.

On that occasion, Trump also said that the number of ships allowed had ultimately increased.

“They then apologised and said they would send two more ships. So the total becomes 10 ships,” he said.

The global market continues to monitor developments in the Strait of Hormuz, given that this route is the main artery for world oil distribution.

Every sign of disruption or easing of tensions greatly affects energy price movements.

Trump’s comments indicate that some oil shipments can still proceed, helping to alleviate short-term supply concerns.

“The oil market has not overreacted to disruptions in the Strait of Hormuz. They have been able to absorb them,” said Rystad Energy’s Head of Oil Analysis, Paola Rodriguez-Masiu.

“However, that phase is now beginning to end,” added Paola Rodriguez-Masiu.

According to her, over the past nearly four weeks, the market has still been supported by pre-war excess supply, oil reserves at sea, and policy interventions.

Rystad estimates that around 17.8 million barrels of oil and fuel per day have been affected by disruptions in the Strait of Hormuz, with total supply losses approaching 500 million barrels so far.

This situation makes the global market increasingly vulnerable to new upheavals.