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Iran has exported 40 million barrels of crude oil since the end of a U.S. blockade, commanding a 20% price premium on those shipments.
A ceasefire triggered the rebound, sending tanker traffic surging through the Strait of Hormuz — a chokepoint that had been effectively paralyzed for the duration of the conflict.
Strait of Hormuz: From Standstill to Surge The Strait of Hormuz, through which a significant share of global seaborne oil passes, saw traffic grind to a near halt while the conflict persisted.
The ceasefire reversed that dynamic sharply, with crude shipments accelerating as the blockade lifted.
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