Gate News Report, March 15 — Two Indian liquefied petroleum gas ships, “Shivalik” and “Nanda Devi,” successfully crossed the Strait of Hormuz today, carrying a total of 92,700 tons of cargo back to the mainland. This move was the result of high-level diplomatic negotiations between India, Iran, the United States, and the Gulf Cooperation Council, avoiding the risks associated with U.S. military escort.\n\nAnalysis indicates that China and India account for over 52% of all oil passing through the Strait of Hormuz. If Tehran allows its two major clients to pass safely, more than half of the normal traffic through the strait could resume overnight. Additionally, with Saudi Arabia's east-west oil pipeline, which can bypass the Strait of Hormuz and transport 7 million barrels of crude oil daily.\n\nFollowing this news, crude oil futures on Hyperliquid fell below $100 in early trading, currently at $98.1.
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