U.S. and Iran restore oil flow through Strait of Hormuz, tanker traffic resumes

Restrictions affecting the Strait of Hormuz have been lifted by the United States, enabling the resumption of oil tanker traffic through the critical energy route, according to the U.S. Central Command (CENTCOM). The decision followed an order from U.S. President Donald Trump, leading to the restart of commercial shipping and the movement of oil tankers across the strategic waterway.

U.S. Vice President J.D. Vance stated that approximately 12.5 million barrels of oil passed through the Strait of Hormuz on the night of June 18. This volume marks the highest recorded since the beginning of the U.S.-Iran conflict. CENTCOM also announced the lifting of restrictions on Iranian ports, facilitating the resumption of vessel traffic along this key energy corridor.

The Strait of Hormuz is a vital chokepoint for global energy trade, normally handling about one-fifth of global oil supplies. Disruptions during the recent escalation had previously driven Brent crude prices to $120 per barrel. Following the reopening, oil prices saw a significant drop, with Brent crude futures falling below $78 per barrel, the lowest level since the conflict began on February 28.

Despite the positive development, analysts caution that a rapid return to pre-conflict oil prices is unlikely. They point out that while a temporary truce is in place, the conflict has not formally ended, and markets are still factoring in a "risk premium" due to the potential for renewed escalation. Furthermore, months of disruption in the Persian Gulf have reduced production capacity and forced suppliers to reorganize logistics. Restoring full output and transport flows is expected to take considerable time. Analysts anticipate a gradual price decline rather than an immediate return to pre-war levels, with full stabilization potentially taking months or even a year, depending on geopolitical developments.

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approximately 12.5 million barrels of oil passed through the Strait of Hormuz on the night of June 18, describing it as the highest volume recorded since the start of the US–Iran conflict.