Iran Deal to Reopen Strait of Hormuz Within 30 Days—Oil Markets Could Shift

The U.S.-Iran peace deal, now finalized, requires Iran to restore pre-war shipping through the Strait of Hormuz within 30 days of signing. That 21-mile chokepoint carries roughly one-fifth of global seaborne oil. Brent crude has traded at elevated levels and tanker war-risk insurance has commanded extraordinary premiums since the conflict erupted. If restoration holds, it would reverse a significant supply shock. The deal is expected to be signed within days.