The Strait of Hormuz carries roughly one‑fifth (about 20 %) of the world’s oil and gasoline supplies. The strait was effectively paralyzed for more than 100 days during the conflict triggered by joint US‑Israeli strikes on Iran in late February, according to Al Arabiya. A US‑Iran agreement announced in late June/early July will reopen the Strait of Hormuz to tanker traffic, reported by GDELT, and oil flow through the strait has resumed, Al Jazeera reported.

Al Arabiya said vulnerable economies remain at risk of prolonged food and fuel price increases, and that food and transport systems will recover more slowly than energy markets after the Hormuz reopening. Gulf leaders are advancing plans for new bypass pipelines to safeguard their oil exports, according to DW.

Al Jazeera reported that the resumption of flow through the Strait of Hormuz could create an oil surplus that may destabilise global energy markets. The Times of India noted that full normalization of oil flows will take weeks to months because of shipping bottlenecks and ongoing mine clearance.

The South China Morning Post reported that Tehran has not begun de‑mining the Strait of Hormuz and continues to threaten ships attempting to leave the Persian Gulf, and that both parties have not met the two key obligations under the June 17 memorandum of understanding. CNBC.com said Western commercial ships are likely to hesitate to sail through the Strait of Hormuz if it remains under Iran’s de‑facto control, due to the risk of violating U.S. sanctions, and that oil exports through the strait may not return to pre‑war levels.