Strait of Hormuz
The Strait of Hormuz is open for all commercial ships after the agreement of a cease-fire in Lebanon, Iran, and the U.S, sending global oil prices dropping. But President Trump said a U.S. blockade of Iran would remain in place until a peace deal is complete.
It’s unclear to what extent the U.S. will continue to enforce its blockade on ships from Iranian ports, and what that would mean for shipping in the strait. Still, the statements that the waterway is now open raised hopes among tanker owners eager to resume moving oil and gas out of the Persian Gulf.
