The Strait of Hormuz Is Reopened, But Not Healed

Iran and the US ended their conflict June 15, reopening the Strait of Hormuz after four months. Three Iranian tankers transited June 17—a test case, not recovery. Oil prices fell, yet the market watches harder numbers: 140 ships daily at pre-conflict rates. As of June 24, that throughput hasn't returned, leaving supply disruptions and insurance repricing unresolved.