Maritime traffic in the Hormuz Strait dropped sharply over the weekend after four days of mutual attacks between Iran and the US. According to data from ship tracking firm Kpler, only 22 vessels passed through the strait on Sunday, compared to 38 on Saturday. Before the conflict, an average of 130-140 ships transited the strait daily.
The fragile ceasefire broke on Thursday when Tehran reiterated its demand for permission from vessels passing through the Hormuz Strait and warned that alternative routes were "unacceptable and completely dangerous." On the same day, Iranian forces attacked a container vessel passing through Oman's waters in the gulf. The US retaliated with airstrikes against Iran.
On Saturday, Iran launched attacks on American bases in Bahrain and Kuwait. US Central Command stated that none of the attacks hit their targets and there were no casualties or damage. Later that day, Iran also struck a Panamanian-flagged tanker with a drone.
On Monday, Iran and the US agreed to halt attacks and allow the free movement of ships. US President Donald Trump said in a post on his Truth Social account, "Iran has requested a meeting. The meeting will take place tomorrow in Doha!" Trump did not provide further details.
The international crude oil benchmark Brent rose 0.92 percent to $72.78. The strait has been largely closed since the conflict began on February 28, launched by Iran's Revolutionary Guard. In peacetime, about one-fifth of the world's oil and liquefied natural gas passes through this waterway.
On June 17, the US and Iran signed a memorandum of understanding to end the dispute, limit Tehran's nuclear program, and reopen the strait. Although Iran committed to "maximum effort for the safe passage of commercial vessels for 60 days," the deal was repeatedly violated. Concerns over Iranian mines also deter ship owners. Takaya Soga, CEO of Japan-based NYK Line, said that even if a peace agreement holds, traffic in the Hormuz Strait will remain below half of pre-conflict levels for months.
Meanwhile, French President Emmanuel Macron met with Oman's Sultan Haitham bin Tariq in Paris. According to a statement from the French presidency, the leaders called for "free and unconditional" passage through the strategic waterway. Oman has been a key mediator between Tehran and Washington in ending the conflict.
