Iranian crude oil exports have resumed through the Strait of Hormuz, marking the first successful outbound shipments in two months.
At least three tankers, carrying nearly five million barrels, have navigated past the U.S. Navy blockade, signaling a tentative easing of the chokepoint's most severe restrictions.
The development comes as Iran has reportedly negotiated a provision into its framework agreement with the United States that would impose transit fees on vessels passing through the strait.
This move threatens to complicate the recent de-escalation, adding a new layer of cost and uncertainty to global energy logistics.
For traders, the resumption of flows offers a partial relief to supply concerns, but the introduction of potential transit fees introduces a new variable into shipping economics.
The Strait of Hormuz remains a critical artery for global oil supplies, and any friction in its operation continues to weigh on risk sentiment.