Commercial tanker traffic through the Strait of Hormuz fell to five vessels on Tuesday, preliminary Kpler data cited by Al Jazeera and CNBC showed, down from a 10-day average of 15.
The decline comes as diplomatic channels appear to be thawing between the U.S. and Iran. A report from Russia’s RIA Novosti, citing Iranian and Pakistani sources, said Washington and Tehran agreed to a new ceasefire that may be announced in the coming days, though Investing.com could not independently verify the claim. Separately, Al Jazeera cited an Iranian official stating that Tehran and Oman had agreed on a temporary shipping route through the strait following talks in Tehran.
The strait remains partially restricted. Iran’s top official emphasized that full reopening will not occur until the U.S. fulfills commitments outlined in a lapsed framework agreement signed in June. Brent crude prices dipped below $90 per barrel, reflecting easing supply concerns despite the ongoing limitations.
U.S. officials have signaled reduced appetite for escalation. Secretary of State Marco Rubio reportedly told Washington allies that the White House does not intend to resume strikes against Iran. Treasury Secretary Scott Bessent outlined plans for a new round of sanctions, describing an "economic D-Day" targeting 60 individuals, entities, and vessels linked to Tehran. The U.S. has so far refrained from imposing secondary sanctions on major buyers of Iranian oil, including China.
Deutsche Bank analysts noted that the U.S. does not expect a renewed full-scale conflict with Iran, while The New York Times reported that Washington is preparing to redeploy diplomats to the Middle East. The war between the U.S. and Iran began in late February, disrupting a key chokepoint for global energy flows.
