Topic
exports
Trade Global wheat rally revives India's export prospects as government allows 5 million tonnes of exports
India has authorised the export of 5 million tonnes of wheat after a four-year ban, according to the Economic Times. The decision follows a global wheat rally and a domestic surplus of 57.8 million tonnes in the central pool. The government had previously allowed an additional 2.5 million tonnes in April 2026.
Trade Assocham: India's exports to UK may reach USD 115 billion by 2030 under trade pact
Assocham has projected that the India-UK trade agreement, effective July 15, 2026, could more than double India's exports to the UK from USD 58 billion in FY2025-26 to USD 115 billion by 2030, while creating 7-10 lakh jobs. The chamber stressed the need for sustained competitiveness in quality, certification, and rules of origin compliance.
Trade Value Added Coffee Exports from India Rise 46% to $686 Million in 2025-26
India's exports of value added coffee rose by 46.58% over three years, reaching $686 million in 2025-26, according to Minister of State for Commerce and Industry Jitin Prasada. Overall coffee exports hit $2.083 billion, with Karnataka as the largest exporter and producer. The Coffee Board promotes freeze-dried instant coffee under the 'Coffees of India' logo.
Trade US Section 301 Tariffs Unlikely to Hit India's Exports, Textiles Need Close Watch, Says FIEO Chief
The US announced Section 301 tariffs of 10% and 12.5% on 60 economies on July 24, 2026, with India placed in the lower 10% category. FIEO chief Sahai stated the tariffs are unlikely to impact India's overall exports but noted that textiles need close watch as India was excluded from the textile TRQ exemption granted to some competitors. Products under Section 232 remain unaffected.
Commodities IISR and Spices Board Partner to Boost Spice Startups and Exports via Incubation
The ICAR-Indian Institute of Spices Research (IISR) has partnered with the Spices Board through its Agventure Technology Business Incubator (TBI) to support spice startups and export-oriented enterprises. The MoU establishes Agventure TBI as an incubation centre under the ASPIRE scheme, offering research commercialization, technology transfer, and market access.
Trade GTRI Questions US 10% Section 301 Tariff on Indian Exports, Says Measure Lacks Credible Evidence
Global Trade Research Initiative (GTRI) has questioned the US 10% Section 301 tariff on Indian exports, stating it lacks credible evidence of forced labour. India had amended its Foreign Trade Policy in June 2026 to prohibit forced labour imports, reducing the proposed tariff from 12.5%. Around 70% of India's exports to the US will now face MFN duty plus the 10% tariff, while 8% face existing Section 232 duties.
Trade US Imposes New Tariffs on 60 Trading Partners Over Forced Labour Claims
The United States is imposing new tariffs on imports from approximately 60 trading partners over allegations of inadequate action against forced labour. Duties range from 10% to 12.5% and target key economies including the UK, EU, Canada, Japan, and India, effective Friday. Canada faces additional 50% duties on some goods. The move escalates the global trade war reignited by President Donald Trump.
E-Commerce & Marketplaces Govt opens inventory-based e-commerce to foreign direct investment for exports only
The Indian government, through the Department for Promotion of Industry and Internal Trade (DPIIT), has amended the FDI policy to allow inventory-based e-commerce for exports only. This enables Indian manufacturers to use foreign investment to own inventory and sell directly to overseas buyers, while maintaining the existing prohibition on inventory-based B2C e-commerce domestically. The policy change aims to boost exports without affecting small domestic retailers.
Commodities India's Surging Refined Product Exports Ease Asia Fuel Crisis, Says Russell
India's exports of light and middle distillates are expected to reach 1.55 million barrels per day in July, the second-highest level in Kpler records since 2017, easing Asia's fuel crisis. The surge is driven by soaring product premiums after the breakdown of the US-Iran ceasefire, with Brent crude rising 34% from its post-deal low. Other exporters like Oman and Taiwan are also boosting output, but Asia's imports remain 18% below pre-conflict levels, indicating continued tightness.
Trade Trump's Generic Drug Tariffs Explained: What It Means for Indian Pharma Before the 200% Storm
US President Donald Trump unveiled a phased tariff plan for imported generic medicines: duty-free for two years from August 1, then 100% for one year, followed by 200%. For Indian drugmakers, the plan offers temporary relief but signals a long-term shift. India's pharma exports to the US account for 34% of total pharma exports, worth $30.47 billion in 2024-25. Leading companies with US manufacturing operations may have greater flexibility.
Trade India Targets 10% Share in Global Merchandise Exports by 2047: WTO Report
India aims to increase its share of global merchandise exports from about 1.8% in 2024 to around 10% by 2047, according to a WTO report. The report highlights export promotion under the Viksit Bharat vision, India's stance on WTO reform, and recent customs duty changes eliminating the highest rates.
Trade Uttarakhand Exports First Frozen French Fries Consignment to Iraq via APEDA
The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the first export of 24 metric tonnes of frozen french fries from Uttarakhand to Iraq. The consignment, shipped by Virun Global Trade Pvt. Ltd. from Kashipur, marks a milestone for value-added agricultural exports from the landlocked state. APEDA Chairman Abhishek Dev noted that logistics costs affect competitiveness and that APEDA is working with the Uttarakhand government on transport assistance under the State Agri-Export Policy.
Trade Downstream aluminium industry urges duty cut on primary aluminium and scrap to restore competitiveness
Downstream aluminium manufacturers have urged the Centre to reduce customs duty on primary aluminium and aluminium scrap, stating the current duty structure is hurting MSME competitiveness. In a joint representation to the mines ministry, industry bodies cited an effective import duty of 8.25% on primary aluminium and 2.75% on scrap, which has compressed margins by up to 70% and pushed input costs up 20-35% in the last three months. The associations also flagged the EU's Carbon Border Adjustment Mechanism as a future threat.
Commodities US firms sign $60 billion Iraq deals to expand oil exports beyond Strait of Hormuz
US companies signed roughly $60 billion in agreements with the Iraqi government on Friday, including deals to develop alternative oil export routes beyond the Strait of Hormuz. The agreements come amid the US-Iran war that has disrupted Hormuz shipments and caused oil price volatility. Chevron signed three agreements focused on boosting production and building a new pipeline. Goldman Sachs estimated pipelines could carry 60% of current Hormuz oil by 2028.
Trade Textile sector to sew loose ends as FTAs kick in
The operationalisation of the UK-India free trade agreement eliminates tariffs up to 12% on textile exports, bringing parity with competitors. Industry body Indian Texpreneurs Federation expects exports to double to a 12% share in 4-5 years, but experts caution about structural challenges.
Manufacturing Mexico Heavy-Duty Truck Production and Exports to US Rebound in June 2026
Mexico's heavy-duty truck manufacturing sector saw a rebound in June 2026, with production up 7.6% and exports up 3.2% year over year, driven by US market recovery. However, first-half totals remain below 2025 levels. Industry leaders urge preservation of USMCA rules.
India's Whole Cardamom Exports More Than Triple to $436.8 Million in 2025-26, Driven by Global Demand
India's exports of whole cardamom more than tripled in value to $436.8 million in 2025-26 from $131.9 million in 2023-24, according to Commerce Ministry data. Volumes more than doubled to 16,399 tonnes. Key markets include UAE, Saudi Arabia, and Bangladesh.
Commodities West Asia crisis subdues orthodox tea exports from Kochi auctions, prices slip
Escalating conflict in West Asia has severely curtailed orthodox tea exports from Kochi auctions, with shipments to GCC and other Gulf markets at a standstill. Underscoring the subdued demand, unsold quantities rose to 19% of the offered 269,479 kg in Sale 29, and average prices dipped ₹3 to ₹183 per kg. Exports are currently limited to Europe and Russia, with rising freight and shipment delays further pressuring trade.
Trade India-UK CETA takes effect: First zero-duty Indian coffee, jewellery consignments reach UK shores
The India-UK Comprehensive Economic Trade Agreement (CETA) took effect on July 15, 2026. The first zero-duty consignments of Indian coffee and jewellery have already arrived in the UK, displayed at a celebratory event at the High Commission of India in London. The agreement covers 99% of India's export tariff lines to the UK, with long-term bilateral trade expected to increase by £25.5 billion annually.
Commodities India’s oilmeal exports fall 21.5% in April on Red Sea disruption, price gap
India’s oilmeal exports fell 21.5% year-on-year to 3.65 lakh tonnes in April 2026, according to the Solvent Extractors’ Association of India (SEA). The decline was driven by Red Sea shipping disruptions, higher freight costs, and intense price competition from South American soybean meal. Rapeseed meal exports bucked the trend, rising to 2.48 lakh tonnes on strong demand from China.
Trade PM Modi Cheers UK FTA as Exporters Ship Orders of $140 Million on Day 1
Indian exporters shipped goods worth $140 million on the first day of the UK FTA, according to a report. Prime Minister Narendra Modi welcomed the development via social media, stating the agreement will give fresh momentum to farmers, entrepreneurs, and MSMEs while deepening cooperation in technology, professional services, and innovation. He emphasized the partnership is driven by trust, trade, technology, investment, and innovation.
Trade India Exports $140 Million in Duty-Free Goods on Day One of UK Trade Pact
India exported $140 million worth of goods at zero duty on the first day of the UK-India Comprehensive Economic Trade Agreement (CETA). The pact grants duty-free access to nearly 99% of Indian exports. Key sectors include leather, textiles, gems, and electronics. The government procurement chapter opens a GBP 90 billion UK market to Indian suppliers, with safeguards for MSMEs.
Commodities US sees India emerging as key buyer of its cotton in 2026 as global demand shifts
Gary Adams, President and CEO of the National Cotton Council, stated that India is expected to emerge as a key buyer of US cotton in 2026, driven by lower domestic production and monsoon concerns. The USDA raised India's import estimate to 56.9 lakh bales, while global cotton demand is projected to increase 1.5-2%. Cotton prices on ICE reached a two-month high of over 82 cents per pound, supported by higher crude oil prices and supply uncertainties.
Trade China's Exports Surge 27% in June on AI Boom, Trade Surplus Widens to $125.6 Billion
China's exports surged 27% year-on-year in June, far exceeding expectations, driven by booming AI-related product and semiconductor demand, according to customs data. Imports rose 36%, partly due to higher costs from the Iran conflict, widening the trade surplus to $125.6 billion from $105.4 billion in May.
Commodities Reverse Oil Flow: India Supplies Gasoline to Russia as War Cripples Refineries
India has supplied gasoline to Russia for the first time, with Nayara Energy dispatching 60,000 metric tons of gasoline. The reverse flow follows Ukrainian drone attacks that have crippled over 40% of Russia's refining capacity, forcing Moscow to import gasoline even as it remains a major crude exporter. Oil minister Hardeep Singh Puri clarified that Indian companies are not directly selling to Russia; the gasoline was purchased from international traders.
Commodities India Set to See 25% Rise in Petroleum Product Exports on IOCL Capacity Expansion
India's petroleum product exports are projected to rise by 25% from the FY25 level of $44.4 billion, driven by a major capacity expansion programme at state-owned Indian Oil Corporation (IOCL). The expansion will add 17.3 million metric tonnes per annum (MMTPA) of refining capacity across three refineries, set to commission by December 2026, reinforcing India's position as a global refining hub.
Commodities West Asia Tensions Dampen Export Buying of Tea at Kochi Auctions, Down ₹4/kg
Ongoing West Asia tensions have led tea exporters to adopt cautious procurement, resulting in subdued buying at Kochi auctions. Orthodox tea prices fell ₹4/kg week-over-week, while CTC teas remain supported by domestic demand. Exporters face doubled freight rates and port congestion.
Trade NITI Aayog Proposes Pharma Chapter in Future FTAs, Urges India to Move Up Value Chain
NITI Aayog’s eighth Trade Watch Quarterly report proposes a dedicated pharmaceuticals chapter in future free trade agreements to help India move up the value chain. The report calls for greater regulatory transparency, stronger industry-academia tech transfer, and shared environmental compliance infrastructure. It highlights India's 65% dependence on China for critical APIs and notes India supplies 50% of Africa's, 40% of the US', and 25% of the UK's generic drug needs.
Trade Exporters Urge Indian Government Not to Reimpose Onion Export Curbs Amid Price Rise
The Horticulture Produce Exporters Association (HPEA) has urged the Indian government not to impose fresh export restrictions on onions, warning that such curbs could undermine markets regained after a previous ban. Wholesale prices have risen over 42% at Lasalgaon APMC, while exports surged 40% to around 1.5 million tonnes in 2025-26.
Trade Make use of FTAs, other schemes to boost shipments, government tells businesses
The Indian government has asked businesses to fully utilize free trade agreements and other schemes under the Export Promotion Mission. Commerce minister Piyush Goyal met export promotion councils to review progress towards export targets, with a focus on the upcoming India-UK CEPA and the India-EU deal. Concerns remain over capacity constraints in the textile sector and over-reliance on interest subsidy.
Trade Afghanistan likely to boost direct Basmati rice imports from India amid Pakistan tensions
Indian and Afghan traders will meet next month to expand direct Basmati rice trade after preliminary discussions facilitated by the PHD Chamber of Commerce. Afghanistan, which consumes 0.5 million tonnes of Basmati annually, is diversifying away from traditional Pakistani supplies due to bilateral tensions. Direct imports from India via Iran's Bandar Abbas port are under consideration, though diplomatic recognition issues remain a hurdle.
Trade Superplum plans export of mangoes and lychees to global markets, says founder
Superplum, an Indian fresh produce brand and agtech company, plans to export mangoes and lychees to international markets, according to founder and CEO Shobit Gupta. The company aims to increase India's 0.4% share in global mango trade and capitalise on its position as the world's second-largest lychee producer. Despite challenges with exports to Japan, Superplum sees opportunity in demonstrating the quality of Indian fruits abroad.
Trade US overtakes China as largest buyer of Indian spices in FY26 as Chinese demand plunges
In FY26, the United States overtook China as the largest buyer of Indian spices by value, with exports to the US reaching $624.35 million. Overall Indian spice exports declined 6.1% to $4,430 million, driven by a 32% drop in shipments to China as the country boosted domestic chilli and cumin production.
Trade Indian Exporters See US Enquiries Rise but Order Conversions Lag Amid Tariff Uncertainty
Indian exporters of chemicals, textiles, carpets and leather goods are seeing increased enquiries from US clients, but orders remain low due to uncertainty over Section 301 tariffs and US policy unpredictability. The 10% US tariffs expire on July 24, while trade negotiations continue and additional duties are proposed.
Trade India’s coffee exports volumes rise 28% in Q1, value up 12% on higher demand
India’s coffee exports recorded strong growth in the April-June quarter of FY27, with volumes rising 28% to 1.3 lakh tonnes and value increasing 12% to $678 million, driven by European demand. Higher freight rates and the West Asian crisis weighed on realisations, but a weaker rupee helped offset the impact.
Commodities Overseas Demand from CIS and West Asia Lifts Tea Prices at Kochi Auctions
Overseas demand, particularly from CIS and West Asia, has lifted tea prices at the Kochi auctions as the West Asian crisis eases. Orthodox grades saw a 92% sales out of 2,80,925 kg offered, while CTC dust was dearer by Rs1-2 with 89% sales. The trend is expected to continue, according to traders.
Trade India Targets $1 Trillion in Exports This Fiscal Year, Says Piyush Goyal
India's Commerce Minister Piyush Goyal announced a target of $1 trillion in exports for the current fiscal year, up from $863 billion last year. Goods exports must grow 17% to $530 billion, and services 11% to $470 billion. The minister also noted operational FTAs with Oman and UAE, and an expected India-UK deal by July 15.
Trade Indian envoy pitches greater pharma exports, Chinese investment to deepen ties
India's envoy to China, Doraiswami, called for increased pharmaceutical exports to China and welcomed Chinese investment, speaking at Tsinghua University's World Peace Forum. He noted recent Indian policy changes to facilitate Chinese investment and normalisation of bilateral ties.
Trade Kashmir Growers Gain Overseas Market Access with First Premium Fruit Shipments to UAE
Kashmir's horticulture sector achieved a breakthrough with the export of premium stone fruits to the UAE. Fruit Master dispatched a 1-tonne consignment of Aerko cherries and Scentrose plums from Shopian and Pulwama to Abu Dhabi and Dubai. The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the shipment, which was virtually flagged off by Chairman Abhishek Dev. Commerce Minister Piyush Goyal hailed it as a milestone for the region's horticulture.
Trade India's Auto Parts Exports to US Hold Strong Despite Section 301 Probe, Trade Deficit Emerges
India's auto component exports to the US remained robust in FY26, with the US accounting for 26% of total exports. Despite a USTR Section 301 investigation into alleged unfair practices, the industry posted 5% export growth to $24 billion. However, a trade deficit of $1.4 billion emerged as imports outpaced exports, with China the top import source at 36%.
Regulations & Compliance EU's CBAM Poses Major Compliance Challenge for Indian MSMEs; Experts Seek Urgent Government Support
The EU's Carbon Border Adjustment Mechanism (CBAM) presents significant compliance hurdles for Indian MSMEs, who lack the financial and technical capacity to meet reporting requirements. Experts at the PHDCCI Carbon Shift India 2026 conference urged government support, including monitoring technologies and export diversification to Africa and other regions.
Commodities Spices Board Invites Applications Under SPICED Scheme for 2026–27 to Boost Spices Sector
The Spices Board has invited applications for its SPICED Scheme for 2026-27, targeting expansion of cardamom cultivation, improvement of productivity, export promotion, and quality compliance. Stakeholders include exporters, farmers, and FPOs.
Commodities Middle East fuel oil exports hit four-month high as Hormuz shipping recovers
Middle Eastern fuel oil exports are set to rebound to a four-month high in June, rising more than 20% from May, as Iraq and Saudi Arabia reroute supplies through alternative ports while Strait of Hormuz shipments gradually resume after the US-Iran interim peace agreement. Exports are expected at about 2.4 million metric tonnes, still far below pre-conflict levels, with recovery constrained by tighter regional balances and peak summer demand.
Commodities Strait of Hormuz Reopens: Middle East Oil Exports to Climb to 4-Month High
The Strait of Hormuz is recovering after over 100 days of disruption, with Middle Eastern fuel oil exports expected to reach 2.4 million metric tons in June, a 20% increase from May. Exports are driven by supply diversions from Iraq and Saudi Arabia, though volumes remain below pre-war averages. Uncertainty over the US-Iran peace deal durability keeps shipping cautious.
Trade Goyal meets exporters to discuss ways to boost shipments, leverage FTAs
Piyush Goyal met with Export Promotion Councils and industry associations to discuss strategies for boosting exports and leveraging free trade agreements. The meeting focused on MSME support, innovation, and export facilitation. Trade data for April-May 2026-27 showed exports of USD 88.91 billion and imports of USD 145.35 billion.
Trade India targets $100 billion textile exports by 2030, focus on sustainability, FTAs
India targets $100 billion in textile exports by 2030, with a focus on sustainability and leveraging free trade agreements. Union Minister Giriraj Singh and commerce officials outlined the strategy at a two-day summit, emphasizing traceability, recycling, and district-level export hubs.
Manufacturing India to Resume Train Coach Exports to Bangladesh, First Shipment Since Hasina Ouster Likely in July
India is set to resume train coach exports to Bangladesh, with the first shipment of 200 broad-gauge passenger coaches likely in July 2026. The contract, awarded to RITES in May 2024 and funded by the European Investment Bank, was delayed by political transition but is now back on track. Coaches are being manufactured at the Rail Coach Factory in Kapurthala, Punjab.
Trade Australians Take UN Case Claiming Coal and Gas Exports Violate Human Rights
A group of ten Australians has filed a legal claim with the UN Human Rights Committee, arguing that Australia's continued export of coal and gas violates their human rights by contributing to extreme weather events. This is the first such claim since the International Court of Justice ruled in 2025 that countries can be sued for climate change. The claimants include a wildlife ecologist, a blind flood survivor, and an Indigenous elder.
Commodities India’s corn exports to hit 2.4 million tonnes in MY25-26 on weak prices and strong demand
The USDA’s local office has raised India’s corn export estimate for marketing year 2025/26 to 2.4 million tonnes, driven by relatively weak domestic prices and robust demand from neighbouring buyers. Shipments in the first five months more than tripled year-on-year to 996,000 tonnes, with trade sources expecting continued steady exports. Meanwhile, maize production for 2025/26 is pegged at a record 55 million tonnes, up 27% year-on-year.
Trade US Eases Sanctions on Iranian Oil Exports as Talks Move Towards Final Peace Agreement
The US Treasury Department has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian crude oil, petroleum products, and petrochemicals, marking a significant sanctions relief measure. The move fulfills a commitment under a framework agreement reached last week as Washington and Tehran continue talks in Switzerland toward a final peace agreement.
Commodities Venezuelan Crude Exports More Than Double Amid US Licence Restoration and Strong Tanker Demand
Venezuela's seaborne crude exports have more than doubled in 2026, rising from 620,000 bpd in January to 1.5m bpd by mid-June, following US licence reinstatements. The US is the top destination, accounting for 44.7% of exports, while aframaxes dominate tanker liftings at 38%. Vitol and Trafigura are marketing cargoes, and SLB has signed a long-term agreement with PDVSA.
Trade Exports up 15% so far in June quarter despite global headwinds, says Piyush Goyal
India's exports have recorded a 15% increase so far in the June quarter, according to Commerce and Industry Minister Piyush Goyal. The announcement was made against the backdrop of global economic headwinds, though no sectoral or value breakouts were provided.
Trade Exports Rise 15% in Apr-Jun 14 Despite Global Uncertainties, Says Piyush Goyal
India's exports recorded 15% growth in April, May, and the first 14 days of June 2026, according to Commerce Minister Piyush Goyal, despite 50% US tariffs. May exports hit a six-month high of $45.2 billion with a trade deficit of $28.21 billion. Minister also urged a cleanliness campaign in his Mumbai North constituency.
Trade India's Exports Surge 15% Despite US Tariffs; Trade Talks With US Set to Begin
India's merchandise exports recorded a robust 15% year-on-year growth in April-June 2026, defying US tariff impositions. Commerce Minister Piyush Goyal announced the data and confirmed that bilateral trade talks with US Trade Representative Jamieson Greer will commence on June 23-24 in Delhi to finalize a trade agreement framework.
Trade India on track for $1 trillion exports in FY27, says Piyush Goyal amid US trade deal talks
Union Minister Piyush Goyal reaffirmed India's target of $1 trillion in exports by fiscal year 2026-27 (FY27), citing free trade agreements and ease of doing business. He also revealed that India and the US have finalised the framework for a trade agreement, pending tariff advantage. Cumulative exports in April-May 2026-27 rose 14.66% year-on-year to $162.69 billion. Separately, Goyal announced that the bulk of the ₹10,000-crore Startup India Fund of Funds 2.0 is earmarked for AI startups, and highlighted Mumbai's advantage for data centre investments.
Trade Exports Up 15% Despite 50% US Tariffs, Says Commerce Minister Piyush Goyal
Commerce and industry minister Piyush Goyal reported that India's exports grew 15% in the period covering April, May, and the first 14 days of June, despite the US imposing 50% tariffs. May exports reached a six-month high of $45.2 billion. Bilateral trade negotiations with the US are slated for June 23-24 in Delhi, focusing on finalising a framework deal.
Trade India's goods exports rise 15% in first 2.5 months of FY2026-27, driven by oil and FTA push
India's goods exports grew nearly 15% in the first two-and-a-half months of FY2026-27, according to commerce minister Piyush Goyal. The growth is aided by strong oil exports and the expected operationalisation of several free trade agreements, including the UK FTA from July 15, 2026, and the EU FTA by early 2027. Talks with the US, Canada, Kenya, and the South African Customs Union are also underway.
Business China's Domestic Economy Stalls Despite Record Export Surge, Jefferies Report Finds
A Jefferies market strategy report reveals that China's domestic economy continues to face headwinds, with consumer spending, property activity, and credit demand remaining weak, even as exports surged 19.4% in May and semiconductor shipments hit a record $35.5 billion. The report highlights a lack of evidence of a domestic demand pickup, underscoring persistent challenges in the world's second-largest economy.
Trade India Exports First Dried Whole Egg Powder Shipment from Odisha to Austria
APEDA, under India's Ministry of Commerce & Industry, facilitated the first-ever commercial export of dried whole egg powder from Balangir, Odisha, to Austria. The 22.6 metric tonne consignment, exported by OVO Farm Pvt Ltd, signals growing global acceptance of Indian value-added poultry products and opens new avenues for processed egg exports to premium markets.
Commodities Crude Comeback: 20 Million Barrels Leave Iran Port After Peace Breakthrough
A wave of 11 tankers carrying 20 million barrels of crude oil departed from Iran's Chabahar port after a peace breakthrough between Tehran and Washington, according to shipping data cited by Bloomberg. The vessels had been blocked by a US military blockade, and the move signals a potential easing of oil supply constraints. Uncertainty remains as peace negotiations are delayed.