The Strait of Hormus is officially open to navigation again, but the return of normal oil flows is likely to be a slow process stretched over months rather than days.
Tagesschau reports that the waterway remains obstructed by unexploded mines, while critical production infrastructure has sustained damage that will require extensive repairs before output can normalize.
Insurance markets are also still grappling with coverage gaps, adding another layer of friction to the resumption of trade.
The immediate implication for energy markets is that the risk premium embedded in crude prices will not vanish overnight.
While the headline news of the reopening removes the acute threat of a total blockade, the physical reality on the ground—mines in the channel and damaged facilities—means supply disruption risks persist.
Traders should expect continued volatility as the market digests the timeline for actual volume restoration.