The Trump administration indicated on Monday that it could take approximately two weeks before a significant increase in maritime traffic is seen through the Strait of Hormuz following the agreement signed between the United States and Iran.
“You will see a significant increase in traffic through the Strait of Hormuz—in fact, it has already begun—and it will continue to grow gradually over time. One week from now, two weeks from now, we may not be fully back to normal, but we will see a substantial increase in traffic through the strait,” a senior administration official said.
Washington and Tehran have stated that the memorandum of understanding will help reopen this vital oil-shipping corridor, which has experienced months of disruption and uncertainty, contributing to higher global oil and gas prices.
The official pointed to the sharp decline in crude oil prices on Monday as a sign of market confidence that maritime operations and energy flows will progressively return to normal.
The Strait of Hormuz is one of the world’s most important energy transit routes, carrying a significant share of global oil exports. Any disruption in the waterway can have immediate effects on international energy markets and global trade.
