Chinese Tankers Resume Hormuz Transit Under Iran Coordination After US-China Deal

Iranian state media announced that approximately 30 Chinese vessels are being allowed safe passage through the Strait of Hormuz. This resumption of transit follows a diplomatic agreement between President Trump and President Xi Jinping, emphasizing the necessity of keeping the strait open for the free flow of energy. According to Bloomberg reports, the movement of these vessels is being conducted under direct coordination with Iranian authorities to ensure security.

This geopolitical easing arrives amid robust Chinese trade performance, with market data from May 9, 2026, showing Chinese exports grew by 14.1% year-on-year, significantly beating the 7.9% forecast. Furthermore, China's imports surged by 25.3% as the country seeks to secure energy inputs to sustain its industrial momentum, supported by a trade balance surplus that reached $84.82 billion per market data.

Traders are now monitoring the durability of this coordination and its impact on global oil benchmarks. While the current agreement provides a relief valve for energy supply chains, market participants remain cautious regarding broader regional stability. According to the economic calendar, there are no major energy-specific catalysts scheduled for the next week, leaving geopolitical developments as the primary driver for sentiment in the immediate term.