A preliminary deal and memorandum of understanding between the US and Iran have taken steps to reopen the Strait of Hormuz. Following vows to lift a dual blockade, a burst of oil flows occurred on Thursday as several vessels began to exit the Gulf through the key maritime chokepoint.
Despite these efforts, traffic remains erratic and appeared to thin early Friday. Shipping companies attempting to recover stranded vessels face significant complications, including a lack of clear coordination and the presence of approximately 80 mines blocking the center of the strait.
The tanker owner trade body warns that the center of the waterway will remain closed for some time until the mines are cleared. Consequently, vessels taking the Omani route risk running aground. Additionally, the deal has raised questions regarding how the Strait of Hormuz will be governed once the current toll-free period ends.