Three supertankers carrying 6 million barrels of Middle East crude have exited the Strait of Hormuz as U.S.-Iran talks show tentative progress, though analysts warn prices will stay elevated for months.

Oil prices remain near $100 despite the Hormuz disruption, but inventory drawdowns, spare capacity limits, and structural constraints suggest a delayed supply shock ahead.

At least 19 oil- and liquefied petroleum gas-carrying ships without Iranian links have both entered and exited Hormuz since March 1.