President Donald Trump said Thursday that Iran had allowed 10 oil tankers, including some flying Pakistan’s flag, to pass through the Strait of Hormuz as a goodwill gesture tied to negotiations, describing the move at a White House Cabinet meeting as evidence Tehran was “real and solid” in its outreach.

In the second day of remarks clarifying the episode, Trump said the tanker passage was the “present” he had earlier described as “worth a tremendous amount of money” tied to energy flows through the strait, according to reporting by Reuters and other outlets.

Trump said Iran had initially indicated it would permit eight “big boats of oil” to transit before the number rose to ten, adding that the vessels were able to pass safely through one of the world’s most critical energy chokepoints.

The comments come amid escalating tensions over Iran’s tightening control of the narrow maritime corridor, which carries roughly a fifth of global oil shipments according to the U.S. Energy Information Administration.

Iranian officials have signaled they could restrict passage through the Strait of Hormuz to what they describe as “non-hostile nations,” while also raising the prospect of charging transit fees for ships seeking safe passage, according to statements carried by the Islamic Republic News Agency and widely reported by international media.

That posture has effectively given Tehran leverage over a route used by major exporters including Saudi Arabia, Iraq, Kuwait, and the United Arab Emirates, with even partial restrictions creating bottlenecks and delays in global supply chains.

Shipping traffic through the strait has at times dropped sharply from typical levels of roughly 100 vessels a day, according to maritime tracking data cited by The Guardian, underscoring the scale of disruption.

Energy markets have reacted quickly, with crude prices spiking and volatility increasing as traders price in the risk of prolonged disruption, according to analysis from Reuters.

Insurance premiums for tankers entering the corridor have surged while some shipping companies have avoided the route altogether, further constraining supply and driving up costs for refiners and consumers.

Iran has previously threatened to close the strait outright during periods of confrontation, but analysts say its current strategy of selective access and conditional passage allows it to exert pressure while avoiding a total shutdown that could trigger a broader military response.

U.S. officials have long warned that any sustained attempt to block the waterway would provoke a forceful reaction given its central role in global energy security.

Trump framed the reported tanker passage as a sign of potential progress, suggesting Iran was willing to make limited concessions even as broader disputes over sanctions, regional security and nuclear policy remain unresolved.

Market analysts say volatility is likely to persist as long as Iran signals it can control access to the Strait of Hormuz and use that leverage to influence both negotiations and global oil flows.