WASHINGTON: Two Chinese tankers carrying oil exited the Strait of Hormuz on Wednesday, according to shipping data, raising cautious optimism that the US-Israeli conflict with Iran may be nearing resolution after upbeat remarks from US President Donald Trump and Vice President JD Vance.
Trump said on Tuesday that the war would be over “very quickly,” while Vance pointed to progress in negotiations with Tehran aimed at reaching an agreement to end hostilities. “We’re in a pretty good spot here,” Vance said during a White House press briefing.
Trump’s comments came a day after he said he had paused a planned resumption of military action following a new Iranian proposal to end the conflict. “I was an hour away from making the decision to go today,” he told reporters at the White House on Tuesday.
He added that Iran’s leadership was “begging for a deal,” warning that a renewed US attack could take place in the coming days if no agreement was reached.
The United States has been trying to end the war it began with Israel nearly three months ago. Trump has repeatedly claimed during the conflict that a deal with Tehran was close, while also threatening heavy strikes if Iran failed to agree to terms.
The US president is under growing domestic political pressure to secure an agreement that would reopen the Strait of Hormuz, a critical route for global oil and commodity shipments. Fuel prices remain high, and Trump’s approval ratings have fallen ahead of congressional elections in November.
The conflict has severely disrupted global energy supplies, blocking hundreds of tankers from leaving the Gulf and damaging key energy and shipping infrastructure across the region.
Data from LSEG and Kpler showed that two Chinese vessels, among a small number of supertankers carrying Iraqi crude, exited the Gulf this month and passed through the narrow strait with around 4 million barrels of oil.
Following the White House signals and developments in the Gulf, oil prices eased, with Brent crude falling to as low as $110.16 per barrel before recovering some losses.
Analyst Toshitaka Tazawa of Fujitomi Securities said investors were closely watching whether Washington and Tehran could find common ground. He noted that US policy positions were shifting frequently, making the outcome uncertain.
During a White House briefing, Vance acknowledged difficulties in dealing with Iran’s fragmented leadership, saying it was not always clear what Tehran’s negotiating position was. He added that the US was working to clearly define its own red lines.
Vance also said a key objective of Trump’s policy is to prevent the emergence of a nuclear arms race in the region.
Ebrahim Azizi, head of Iran’s parliamentary national security committee, said on X that Trump’s decision to pause an attack reflected recognition that any strike on Iran would trigger a “decisive military response.”
Iranian state media reported that Tehran’s latest peace proposal includes ending hostilities on all fronts, including Lebanon, the withdrawal of US forces from areas near Iran, and compensation for damage caused by US-Israeli attacks.
Deputy Foreign Minister Kazem Gharibabadi, cited by IRNA, said Iran is also seeking the lifting of sanctions, release of frozen assets, and an end to the US maritime blockade.
The reported terms closely resemble Iran’s earlier proposal, which Trump rejected last week as “garbage.”
The ceasefire has largely held, although drone attacks from Iraq have recently targeted Gulf states including Saudi Arabia and Kuwait.
Iranian strikes on Israel and neighbouring Gulf countries have killed dozens, while Israeli and US bombing campaigns earlier in the conflict reportedly killed thousands in Iran before being suspended in an early April ceasefire. Israel’s operations in Lebanon have also displaced hundreds of thousands of people in fighting against Hezbollah.
Trump and Israeli Prime Minister Benjamin Netanyahu said the war was launched to curb Iran’s regional militias, dismantle its nuclear programme, weaken its missile capabilities, and encourage internal political change in Iran.
However, the conflict has not eliminated Iran’s stockpile of near-weapons-grade enriched uranium or its ability to project power through missiles, drones, and allied militia groups.
Despite sustained pressure from the US and its allies, Iran’s leadership has remained intact, with no sign of organised internal collapse.