Oil shipments restart following a naval blockade lift, but insurers and shippers remain cautious amid lingering geopolitical risks.
Oil tankers, including Saudi supertankers carrying millions of barrels of crude, have resumed transit through the Strait of Hormuz after the U.S. lifted its naval blockade. The move follows a 14-point memorandum signed by the U.S. and Iran, easing immediate tensions in the critical chokepoint.
Despite the resumption, shipping companies and insurers remain hesitant to normalize operations. The route still lacks formal safety guarantees, leaving commercial confidence fragile even as political trust holds. Prior disruptions had raised concerns over supply chain stability and insurance costs.
No immediate market reaction was reported, though traders are monitoring developments for potential shifts in crude pricing and shipping risk premiums.