Overview
- The U.S. and Iran agreed Tuesday to a two‑week halt that conditionally reopens the Strait of Hormuz, allowing passage coordinated with Iranian forces.
- Ship‑tracking shows the first vessels moving Wednesday, yet a queue of 800–1,000 ships remains near Dubai and Khor Fakkan, leaving about 20,000 seafarers stuck on board.
- Officials have floated transit fees managed by Iran and Oman, a proposal maritime lawyers say clashes with norms that guarantee free passage through natural straits.
- Oil prices fell sharply after the truce, easing the surge that followed weeks of attacks and a near‑shutdown of a route that carries roughly one‑fifth of seaborne oil and key liquefied gas.
- President Donald Trump said the U.S. would help with the traffic buildup, though the scope of any military role and rules for safe passage are still unsettled.