Strait of Hormuz shipping volumes stay far below prewar levels despite U.S.-Iran deal

The Strait of Hormuz is a key conduit for global oil shipments. A preliminary agreement between the United States and Iran was reached to reopen the waterway. The deal represented the first concrete step toward restoring maritime traffic after years of disruption. Nevertheless, shipping movements remain erratic. Current volumes are far below the prewar levels that existed before the conflict. Vessels continue to transit the strait in a sporadic pattern. The reduced flow may pressure oil prices and affect supply chains worldwide. Experts say additional diplomatic progress is needed to bring traffic back to normal.