Insurance Premiums, Not Headlines, Will Determine If Oil Flows Again

Washington and Tehran agreed June 15 to reopen the Strait of Hormuz after a four-month blockade stranded 20,000 mariners and 2,000 ships. But the pact omits key details: Iran's conditions on vessel nationality, cargo type, and enforcement remain unresolved. Tanker operators won't risk laden ships until war-risk insurers reprice Persian Gulf transits to operable levels. That repricing signals whether the agreement holds or collapses into renewed disruption.