Vance touts record number of barrels going through Strait of Hormuz since Iran conflict began as gas dips below $4

Vice President JD Vance said on Thursday that a few days after the memorandum of understanding (MOU) had been brokered with Iran, 12.5 million barrels of oil had passed through the Strait of Hormuz in the last day. This comes as gas prices on average have fallen below $4 a gallon on average for the first time in three months in the US.

"I think the president's peace plan in Iran is already bearing real fruits for the American people. Last night, 12.5 million barrels of oil went through the Straight of Hormuz, that is a high since the beginning of the conflict. Oil prices are down nearly at their level from the pre-war conflict. Gas prices dropped below $4 a gallon today, for the first time since the conflict, and importantly, they're going to keep falling further, given how low price low oil prices are on the military side."

The vice president's comments come as gas fell below $4 a gallon on average for the first time since the war with Iran started. On Thursday, prices fell to $3.999 a gallon on average around the country, falling from the peak of $4.56 earlier this year after the conflict began.

This comes as there has been criticism and praise of the Trump administration for the MOU, which gives a 60-day timeframe to reach a final deal between the US and Iran.

Vance responded to critics, telling the American people to "have a little bit of faith in the President of the United States."

Vance said in the presser that the nuclear weapons program has been "destroyed" from military action of the US and said that they don't "have the capacity" to do so at this time because they do not have funding. Under the MOU, Iran is now allowed to sell and export oil and other petroleum products.

When asked about this by reporters, he said that Iran has made "concrete nuclear commitments" and that they have "committed to the destruction of the highly enriched stockpile that they have."

The MOU indicates that further talks about enrichment will take place in more negotiations, and states, "The two parties also agreed to discuss the issue of enrichment and other mutually agreed matters related to the Islamic Republic of Iran’s nuclear needs, based on a satisfactory framework being agreed upon in the final deal."