Tankers exit Hormuz as Trump, Vance talk up Iran deal prospects
A drone view shows the Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arriving in Iraq’s territorial waters off Basra, Iraq, April 17, 2026. PHOTO: REUTERS
Two Chinese tankers laden with oil exited the Strait of Hormuz on Wednesday, shipping data showed, brightening hopes that the US-Israeli war on Iran may soon be resolved after positive comments from the US president and his deputy.
US President Donald Trump said on Tuesday the war would be over "very quickly" while Vice President JD Vance talked up progress in talks with Tehran about an agreement to end hostilities.
"We're in a pretty good spot here," Vance told a White House press briefing.
Read: US VP JD Vance says ‘a lot of progress’ made in Iran negotiations
Trump made his comments a day after saying he had paused a planned resumption of hostilities following a new proposal by Tehran to end the conflict.
"I was an hour away from making the decision to go today," Trump told reporters at the White House on Tuesday.
Iran's leaders are begging for a deal, he claimed, adding that a new US attack would happen in the coming days if no agreement were reached.
The United States has been struggling to end the war it began with Israel nearly three months ago. Trump has repeatedly said during the conflict that a deal with Tehran was close, and similarly threatened heavy strikes on Iran if it did not reach an accord.
The US president is under intense political pressure at home to reach an accord that would reopen the Strait of Hormuz - a key route for global supplies of oil and other commodities. Gasoline prices remain high, and Trump's approval rating has plummeted with congressional elections looming in November.
The conflict has caused the worst-ever disruption to global energy supplies, blocking hundreds of tankers from leaving the Gulf while damaging energy and shipping facilities across the region.
Two Chinese ships, among a handful of supertankers carrying Iraqi crude, exiting the Gulf this month, passed through the narrow strait carrying around 4 million barrels of crude, according to data from LSEG and Kpler.
Oil prices eased on the positive signals from the White House and in the Gulf, with Brent crude falling to as low as $110.16 a barrel, before regaining much of its losses.
"Investors are keen to gauge whether Washington and Tehran can actually find common ground and reach a peace agreement, with the US stance shifting daily," said Toshitaka Tazawa, an analyst at Fujitomi Securities.
Pakistan condemns attacks on UAE, Saudi Arabia at UNSC
Permanent representative to the United Nations Ambassador Asim Iftikhar Ahmad condemned the drone attacks on the Barakah Nuclear Power Plant in the United Arab Emirates on May 17 as well as against the Kingdom of Saudi Arabia at a meeting of the UN Security Council on Wednesday.
In the Security Council today, Pakistan strongly condemned the drone attacks on the Barakah Nuclear Power Plant in the United Arab Emirates on May 17 as well as against the Kingdom of Saudi Arabia. Pakistan stands in complete solidarity with the governments and the brotherly…
"Pakistan stands in complete solidarity with the governments and the brotherly peoples of the UAE and KSA in the wake of these heinous attacks and reiterates its full support for the sovereignty and territorial integrity of all friendly countries of the region," he stated in a post on X.
He stated that Pakistan believed that targeting nuclear facilities "constitutes a grave violation of international law, including international humanitarian law, the United Nations Charter, and the fundamental principles of nuclear safety" as per the International Atomic Energy Agency (IAEA).
UN watchdog chief warns of 'very high radioactivity release' risk at UAE plant
The head of the UN nuclear watchdog on Tuesday warned that a direct attack on the Barakah nuclear power plant in the United Arab Emirates could lead to severe radioactive consequences.
Addressing an emergency session of the UN Security Council following a recent drone attack targeting the facility, Rafael Grossi said the situation is highly concerning.
"This is a nuclear site in the Middle East, where the consequences of an attack could be most serious," he said.
Grossi stressed that the Barakah plant in the Abu Dhabi Emirate -- some 300 kilometres (186 miles) away from the capital city of the same name -- is an operating nuclear facility containing thousands of kilograms of nuclear material, including fresh and spent fuel.
"In case of an attack on the Barakah nuclear power plant, a direct hit could result in a very high release of radioactivity to the environment," he said.
Grossi added that damage to external power supply lines could also pose serious risks, potentially leading to damage to the reactor core.
He further warned that both scenarios would require emergency protective measures, including evacuations, sheltering, and the use of stable iodine over distances extending to several hundred kilometres.
On Sunday, UAE officials said a fire erupted near the Barakah power plant due to a drone strike.
Difficulties in negotiations
Speaking to reporters at a White House briefing, Vance acknowledged difficulties in negotiating with a fractured Iranian leadership. "It's not sometimes totally clear what the negotiating position of the team is," he said, so the US is trying to make its own red lines clear.
He also said one objective of Trump's policy is to prevent a nuclear arms race from spreading in the region.
Ebrahim Azizi, head of the Iranian parliament's national security committee, said on X that Trump's pausing of an attack was due to the realisation that any move against Iran would mean "facing a decisive military response."
Read more: Trump says Iran diplomacy space is shrinking
Iranian state media said Tehran's latest peace proposal involves ending hostilities on all fronts, including Lebanon, the exit of US forces from areas close to Iran, and reparations for destruction caused by the US-Israeli attacks.
Tehran also sought the lifting of sanctions, release of frozen funds and an end to the US marine blockade, according to Deputy Foreign Minister Kazem Gharibabadi as cited by IRNA news agency.
The terms as described in the Iranian reports appeared little changed from Iran's previous offer, which Trump rejected last week as "garbage."
Ceasefire mostly holding
The US-Israeli bombing killed thousands of people in Iran before it was suspended in a ceasefire in early April. Israel has killed thousands more and driven hundreds of thousands from their homes in Lebanon, which it invaded in pursuit of the Iran-backed Hezbollah militia.
Iranian strikes on Israel and neighbouring Gulf states have killed dozens of people.
The Iran ceasefire has mostly held, although drones have lately been launched from Iraq towards Gulf countries, including Saudi Arabia and Kuwait, apparently by Iran and its allies.
Trump and Israeli Prime Minister Benjamin Netanyahu said they launched the war to curb Iran's support for regional militias, dismantle its nuclear program, destroy its missile capabilities and create conditions for Iranians to topple their rulers.
But the war has yet to deprive Iran of its stockpile of near-weapons-grade enriched uranium or its ability to threaten neighbours with missiles, drones and proxy militias.
The Islamic Republic's clerical leadership, which had faced a mass uprising at the start of the year, withstood the superpower onslaught with no sign of organised opposition.