Strait of Hormuz reopens following US-Iran deal

On June 18, 2026, the United States and Iran signed a preliminary agreement to end a four-month conflict that began on February 28, 2026. This agreement effectively lifted the naval blockade of Iranian ports and the closure of the Strait of Hormuz, which had disrupted approximately 20% of global oil production. The UK Maritime Trade Operations (UKMTO) has downgraded the threat level in the region from critical to moderate, though it warns of ongoing mine-clearing operations and potential maritime traffic congestion. Tehran announced plans to begin collecting service fees for transits through the strait after a 60-day fee-free period. Data tracking reveals that several tankers, including three Saudi Arabian supertankers, have resumed passage through the waterway. Despite the normalization, the International Energy Agency remains cautious, noting that mine clearance and security concerns persist. Over 500 ships and 20,000 crew members had been impacted by the blockade during the height of the crisis.