Since the U.S. and Iran reached an agreement to open the Strait of Hormuz, at least 20 oil tankers carrying 35 million barrels have left the Persian Gulf, according to Kpler, a global trade tracking firm. These tankers had been stranded for over three months due to Iran's earlier closure of the strait amid ongoing conflict.
The increase in oil shipments through Hormuz has risen to approximately 4.8 million barrels per day, marking the highest levels since the U.S. and Israel's military actions against Iran on February 28. However, this figure remains significantly lower than prewar levels of 15 million barrels per day. The U.S.
Navy's lifting of its blockade on June 18 and the Treasury Department's waiver of sanctions on Iranian oil sales until August have facilitated this surge. Additionally, the Joint Maritime Information Center has downgraded the threat level for vessels crossing Hormuz to 'moderate,' indicating a reduced risk of attacks.
The International Maritime Organization is also implementing an evacuation plan for over 11,000 seafarers still in the region, with support from Iran, Oman, and the U.S. This development is critical for investors as it signals a potential stabilization of oil supply routes and may influence global oil prices