Two Chinese supertankers were among three vessels that transited the Strait of Hormuz, signaling a potential easing of tensions. Iran confirmed increased traffic, a positive sign for global shipping.

Three fully laden supertankers – including two Chinese vessels – crossed the Strait of Hormuz on Wednesday, in a possible sign that Tehran may be starting to open up the vital waterway to more shipping traffic. The exit of the three very large crude carriers (VLCCs) came on the same day that Iran confirmed it had allowed 26 vessels to transit the strait – a hefty uptick compared with the level of traffic Iranian forces have generally permitted since the war began. The moves appeared to signal an...