London: Oil shipments through the Strait of Hormuz picked up on Friday after the United States and Iran signed a ceasefire deal, with Gulf producers preparing to raise exports despite concerns over conditions set by Tehran for using the vital waterway.
Washington and Tehran released the text of an interim agreement signed on Wednesday to end the conflict, although US President Donald Trump warned he could resume attacks and target Iranian officials if commitments are not honoured.
At least four tankers carrying crude, oil products and liquefied petroleum gas entered the strait on Friday, heading for Iraqi Gulf ports, according to MarineTraffic data.
A Japanese-owned crude tanker exited the strait after being delayed by the war and was bound for Japan.
Separately, Indian-flagged tanker Desh Vaibhav was preparing to sail to India after days of disruption.
Ships resumed broadcasting positions as they transited Hormuz, after weeks of concealing movements by switching off transponders.
There were 25 commercial crossings through Hormuz on June 18 — the highest single-day count since April 18 and more than five times the average daily level of the first 10 days of June, AXS Marine data showed. Traffic remains well below the pre-conflict level of about 120 daily crossings.
Gulf oil producers were already active with tenders.
Kuwait Petroleum Corp is offering crude for July delivery via a tender, a document showed on Friday, after lifting force majeure and announcing plans to ramp up output, while Abu Dhabi National Oil Company issued its fourth tender this month.
Switzerland said US-Iran talks on a broader peace pact would not take place on Friday and Vice President JD Vance cancelled a planned visit, underscoring uncertainty over a lasting settlement.
Iran signalled tighter control over shipping, with state TV reporting that vessels must coordinate transit with the Revolutionary Guards navy.
British maritime security firm Ambrey said Iranian forces ordered a Hong Kong-flagged tanker and a Saint Kitts and Nevis-flagged bulk carrier to turn back on Thursday.
In an undated advisory circulated to the maritime industry in the last 24 hours and seen by Reuters, Iran's Persian Gulf Strait Authority said "no vessel is permitted to pass through the Strait of Hormuz without a valid passage permit issued by the PGSA".
The PGSA, which describes itself as the sole body authorised to issue permits, also said it reserves the right to introduce insurance fees, requiring shipowners to obtain and renew coverage.
The shipping industry has rejected any fee or toll system being imposed on what they say is an international waterway.
Oil prices and stock markets stabilised on Friday after postponement of Mideast peace deal talks and following big movements for markets this week on hopes of an end to the US-Iran conflict.
Crude futures have tumbled this week, while stock markets have benefited also from money continuing to pile into the AI sector.
Wall Street was shut on Friday for a US public holiday, having bounced back after the Federal Reserve signalled that it would hike borrowing costs this year — news which boosted the dollar before it too steadied heading into the weekend pause.
"With the (peace) deal signed, that geopolitical cloud is lifting, but markets have learned more than once that a resolution can unravel quickly", said eToro markets analyst Josh Gilbert.
"The hard work starts now, and investors will likely be cautious until we've got an air-tight deal and traffic genuinely flowing in full through the strait again".
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