A convoy of LPG and oil product tankers transited the Strait of Hormuz on Saturday. This marks the first major commercial passage since Iran announced the waterway's reopening.
Crude prices dropped more than 10% on Friday following the initial reopening news. Energy markets continue to monitor the situation as shipping remains limited.
Maritime tracking data from April 18 shows overall traffic at less than 10% of normal volumes. International maritime organizations cite unclear safety conditions and high risks for the delay in full resumption.
Iran has restricted passage to a specific corridor. The U.S. maintains its naval blockade on Iranian ports, creating a high-risk environment for commercial shippers.