The Strait of Hormuz reopened after a nearly four-month closure, potentially releasing 93 million barrels of stranded crude into global oil markets.

Iran's IRGC shut the Strait of Hormuz again, cutting commercial shipping to below 10% of normal volumes and rattling oil and crypto markets worldwide.

The jump in oil exports comes as the threat level for ships crossing Hormuz has been downgraded to "moderate."

The Strait of Hormuz reopened after a nearly four-month closure, potentially releasing 93 million barrels of stranded crude into global oil markets.