DHT Holdings Slips 3% as Iran Offers to Reopen Strait of Hormuz

The Motley Fool·22 Sep 2026·

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Geopolitics Commodity Price Action Oil, Gas & Consumable Fuels

Summary · why it matters

DHT Holdings stock fell 3% through 10:20 a.m. ET, giving back part of an 18% September gain through Friday's close, after Reuters reported that Iran offered over the weekend to reopen the Strait of Hormuz within seven days if the United States Navy lifts its blockade of Iranian shipping. The oil tanker operator, which owns 22 Very Large Crude Carrier supertankers, had rallied as charter rates for a VLCC passed $1 million per day, up five times from the cost before the Iran war began Feb. 28. The Baltic Dirty Tanker Index closed just below 2,000 before the war, hit 2,421 at the beginning of September, and has more than doubled this month to 5,092. StreetInsider attributes the rate spike to a near-shutdown of Hormuz traffic that is slowing tanker traffic and making it hard to charter VLCCs. This is not the first time rumors that the Iran war is about to end have pushed oil stock prices lower, and if the reopening does not happen, charter rates and DHT stock could go right back up again.