The Iran war that began on Feb. 28 with U.S.-Israeli strikes largely stopped shipping through the Strait of Hormuz for around a fifth of the world’s oil and liquefied natural gas supply, as well as aluminium and urea. A memorandum of understanding between the United States and Iran was signed on June 17 to formally end the conflict and restore access to the strait.

Al Jazeera reported that Iran declared the Strait of Hormuz shut and that shipping activity stalled after the declaration. The same outlet said ship‑tracking data shows a sharp fall in transits through the strait. Al Jazeera also noted that U.S. and Iranian officials are holding talks to save a fragile peace framework. According to Al Monitor, shipowners will not resume transit through the strait for weeks until they are confident the U.S.-Iran deal is material. The Bangkok Post reported that shipping groups warned it was too soon to start sailing through the strait after the promises to reopen the route. Bluesky reported that Oman officially informed European authorities that the Hormuz Strait will no longer operate under pre‑war conditions and that tankers and cargo ships transiting the strait may soon face mandatory fees. GDELT reported that industry leaders say navigation will resume only when safety concerns are fully addressed.

GDELT also noted that oil markets reacted positively, with global crude prices falling about 5% on June 15, and that U.S. President Donald Trump said ships carrying oil were already beginning to move through the strait, describing it as totally safe, secure, and pristine. Vessel‑tracking data showed no significant tanker traffic through the strait on Monday, apart from a single liquefied natural gas carrier. The Guardian reported that the centre of the Strait of Hormuz is blocked with about 80 mines that need clearing for normal shipping to resume, and that the tanker owner trade body says the centre will remain closed for some time, with vessels risking running aground by taking the Omani route.