At least two vessels have safely transited the Strait of Hormuz since the ceasefire took effect, marking the first commercial passages through the waterway since the war began on 28 February.
Iranian Foreign Minister Araghchi confirmed that Iran’s military would coordinate safe passage through the strait during the two-week period.
However, MarineTraffic data shows 426 tankers, 34 LPG carriers and 19 LNG vessels remain trapped in the Persian Gulf, reflecting the enormous backlog built up over 40 days of closure.
Oil prices plunged below $100 a barrel on news of the deal – still up 30% since the war began.
The EIA warned that full restoration of flows would “take months” even after the strait reopened.
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