Hormuz Traffic Resumes

Traffic through the Strait of Hormuz is resuming after a U.S.-Iran memorandum of understanding eased wartime disruptions that had left ships and crews trapped in the Persian Gulf. The United Nations’ International Maritime Organization says it has secured safety guarantees from Iran and the United States to begin moving more than 11,000 stranded seafarers through the waterway, with IMO Secretary-General Arsenio Dominguez calling it a large-scale operation conducted with regional cooperation. Maritime intelligence firm Kpler says at least 172 vessels have crossed since the deal was signed, including dozens in a single day, while more than 200 tankers appear ready to attempt passage. Iranian authorities still plan to limit the number of ships crossing each day, and mines and a large backlog continue to pose risks despite rising tanker traffic and easing pressure on oil markets.