Hormuz shipping traffic hits two-month high after US–Iran deal
AI Summary
The United States ended its naval blockade on Iranian ports following a Memorandum of Understanding between the two nations, enabling oil tankers to resume passage through the Strait of Hormuz after months of restriction. Iran reopens the waterway without charging transit fees during the initial 60-day negotiation period on broader issues including its nuclear program. However, market analysts warn that full normalization of oil flows may be delayed by practical challenges including sea mine removal and maritime insurance barriers.
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A total of 25 commercial vessels crossed the newly reopened Strait of Hormuz, the highest number since mid-April, according to tracking firm AXSMarine. ...
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