Oil flow through the Strait of Hormuz has surged to its highest point since late February. This follows a new US-Iran agreement entering a 60-day implementation phase. The US Navy has permitted ships access to Iranian ports, signaling adherence to the deal's initial military provisions. Final negotiations will shape future terms. Iran has not attacked ships, easing market concerns.

Tanker traffic through Hormuz could quickly increase but it is unclear whether transits will approach prewar levels, according to Kpler.

Iran's Tasnim News Agency claims three oil tankers crossed the US naval blockade in the Strait of Hormuz, raising questions about enforcement and oil market