The tanker, chartered by an Indian state-owned energy firm, has been stranded in the Persian Gulf for over three months. It originally loaded its cargo at the Ras Laffan hub on March 1, just before regional hostilities trapped millions of tons of gas and damaged critical infrastructure in Qatar. Ship-tracking data shows the carrier is now sailing north of the UAE toward Oman, seeking to determine if the path through the Strait is truly open after months of retaliatory strikes that crippled regional energy output.

The broader agreement, slated for signing this Friday, includes a 60-day ceasefire while negotiators finalize terms. Iran has secured commitments to end the conflict in Lebanon, unfreeze oil assets held under U.S. sanctions, and lift restrictions on its crude exports. Market reaction was immediate: European natural gas prices dropped 5.8% today, suggesting investors are betting on a stabilization of supply chains despite ongoing force majeure at the Ras Laffan hub and labor strikes at major Australian LNG projects.