Day 72 of the U.S.-Iran conflict opened with yet another failed diplomatic off-ramp.
Tehran on Sunday submitted a counterproposal to the Trump administration's plan to end the war, but President Trump swiftly rejected it as "totally unacceptable," pushing WTI crude futures roughly 3% higher to $98 a barrel as traders slightly repriced the war-risk premium higher for a prolonged Strait of Hormuz disruption.
Tehran's counterproposal was a major focus over the weekend, butwhat caught our attentionSaturday morning was a note fromBloomberg reporter Stephen Stapczynskiciting ship-tracking data showing that an LNG tanker had successfully transited the critical waterway unharmed.
In fact, this was the first time Qatar had exported LNG through the Strait since the war began ten weeks ago. The tanker later made a port call in Pakistan.
By Monday morning, Stapczynski was tracking another fully loaded LNG tanker called "Mihzem."
"Another Qatar LNG shipment is nearing the Strait of Hormuz, bound for Pakistan," Stapczynski wrote on X.
He added, "Pakistan is dealing with a gas shortage, and has negotiated with Iran for several LNG shipments. If successful, this would be the second LNG cargo to transit Hormuz for Pakistan in a few days."
Another Qatar LNG shipment is nearing the Strait of Hormuz, bound for Pakistan🇵🇰🤝🇮🇷 🤝🇶🇦Pakistan is dealing with a gas shortage, and negotiated with Iran for several LNG shipmentsIf successful, this would be the second LNG cargo to transit Hormuz for Pakistan in a few dayspic.twitter.com/lKS9qh3de5
Stapczynski's X post and report about the second Qatar LNG tanker attempting to transit the maritime chokepoint came early Monday.
By 0700 ET, new ship-tracking data showed that the Mihzem abruptly reversed course roughly 20 miles before reaching Hormuz Island.
Source: ZeroHedge News
