Oil tankers use new route through Strait of Hormuz despite Iranian threats

Several tankers made their way out of the Strait of Hormuz on Thursday using a new route promoted by a U.N. maritime agency. Iran has threatened vessels using the path, which runs along the coast of Oman.

The opening of an alternative passage through the vital waterway would relieve pressure on the world economy and remove Iran’s main source of leverage in ongoing peace talks with the United States. U.S. Secretary of State Marco Rubio, on a visit to the Gulf to reassure American allies, said Washington was committed to the new route.

Traffic through the strait has increased but is still well below prewar levels. Oil on Thursday briefly dipped below its last prewar price of just under $73 per barrel, a sign that the market believes the situation is improving.

The two sides are still debating terms of an interim peace deal — from getting ships through the