On Saturday, a convoy of eight tankers was observed crossing the Strait of Hormuz, a crucial maritime route for global oil trade. This movement occurred during a brief ceasefire in the ongoing conflict involving Iran, which had previously closed the strait, leading to a historic supply loss of over 10 million barrels of oil per day. The convoy included a very large crude oil carrier, along with several oil product, chemical tankers, and liquefied petroleum gas carriers, as reported by MarineTraffic data. The Iranian Revolutionary Guards stated that they agreed to allow a limited number of vessels to pass, indicating a potential easing of tensions. However, many ships have been seen approaching the strait only to turn back, suggesting that restrictions may still apply. The closure has significantly affected oil production across Gulf nations, including Saudi Arabia, the UAE, Iraq, and Kuwait, which rely on the strait for their export operations.