Crude oil prices have retreated to their lowest levels since the outbreak of the Iran conflict, driven by confirmation that maritime traffic is resuming through the Strait of Hormuz.
The International Maritime Organization (IMO) has verified that vessels are once again navigating the critical waterway, signaling a tangible improvement in global energy logistics.
Brent crude fell sharply in the session as traders rapidly unwound the risk premium that had propped up prices during the Middle East conflict.
The price decline reflects a dual catalyst: diplomatic progress and the physical return of shipping activity.
While the situation remains fragile, the immediate threat of a total supply blockade has receded, allowing markets to reprice the probability of sustained disruption.
The Strait of Hormuz remains a focal point for geopolitical risk, with shipping insurance rates and route exposure still under scrutiny.