Since the US-Iran agreement, more than 20 oil tankers (carrying approximately 35 million barrels of crude oil) have passed through the Strait of Hormuz. Brent crude oil prices have fallen below $73, and WTI crude oil prices are around $69, essentially returning to pre-war levels at the end of February.
Oman has established two temporary shipping lanes on either side of the existing waterway. Nine empty LNG carriers have entered Qatar to load, the most since the start of the conflict.
However, the Iranian IRGC Navy warned that safe passage is limited to designated routes in Tehran, and violators will face action. The situation remains uncertain.
Another point to note: Trump has explicitly rejected any proposed toll arrangements for the Strait of Hormuz, calling it a "red line." The current MoU stipulates that tolls cannot be levied during the 60-day negotiation period, but Iran and Oman have already begun negotiations on the future management of the Strait. If a toll mechanism is established, it will have a cost impact on all freight transport via the Strait of Hormuz.
Direct impact on logistics: Fuel cost pressures are expected to ease, but a full recovery of Middle East routes will still take time.