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