Donald Trump says the United States will assist in easing congestion in the Strait of Hormuz

Donald Trump said on Wednesday that the United States will help ease the buildup of shipping traffic in the Strait of Hormuz.

He noted that he had agreed on Tuesday to a two-week ceasefire with Iran just under two hours before a deadline for Tehran to reopen the strait or risk attacks on its civilian infrastructure.

According to Trump, the last-minute agreement depends on Iran halting its blockade of oil and gas flows through the waterway, which typically carries about one-fifth of global oil shipments.

“We’ll be bringing in supplies of all kinds and staying nearby to ensure everything proceeds smoothly,” he said, adding that the situation would see “a lot of positive developments” and economic gains, while giving Iran an opportunity to begin reconstruction.

In remarks to Agence France-Presse, Trump described the ceasefire deal as a “total and complete victory” for the United States.

A pause in hostilities and the reopening of the Strait of Hormuz would enable Middle Eastern exporters to move large volumes of oil currently stranded in the Gulf since the conflict began.

Data from analytics firm Kpler indicates that roughly 130 million barrels of crude and 46 million barrels of refined fuel are presently held on about 200 tankers in the region.