US-Iran Deal Reopens Hormuz to 70 Crossings as Iran Restarts 2 Million Barrels a Day
Updated
Updated · CNN · Jun 26
US-Iran Deal Reopens Hormuz to 70 Crossings as Iran Restarts 2 Million Barrels a Day
3 articles · Updated · CNN · Jun 26
Summary
70 vessel crossings were recorded in the Strait of Hormuz on Wednesday, more than double Tuesday’s level, after the US-Iran memorandum halted fighting and Iran reopened the waterway.
Traffic remains constrained: permits are still required on the northern corridor, mines force ships into a single lane near Oman, and an Iranian drone struck a cargo vessel on Thursday.
Iran has already resumed exports, shipping 3.8 million barrels through Hormuz last week after the US ended its naval blockade, with analysts saying sales could reach roughly 2 million barrels a day.
The truce gives both sides quick economic relief after a shock JPMorgan said could erase 1.6 billion barrels of global supply, but the toll-free passage guarantee lasts only 60 days.
Longer term, the accord still faces fights over sanctions relief, access to more than $100 billion in frozen assets, nuclear inspections and whether tensions in Lebanon could unravel the deal.
As Iran's oil revenue returns, can this fragile truce secure the world’s most vital energy chokepoint?
Billions are promised, but nuclear access is denied. Is this peace deal merely a prelude to a greater crisis?
With Israel unbound by the deal and vowing to act, is a wider regional conflict now inevitable?
The June 2026 U.S.-Iran Peace Agreement: Strait of Hormuz Reopens Amid Global Oil Market Turmoil and Lingering Security Risks
Overview
On June 27, 2026, the United States and Iran reached a preliminary peace agreement to immediately cease hostilities and reduce direct confrontation. The United States agreed to halt its naval patrols in the Persian Gulf, while Iran pledged to stop harassing commercial shipping and discontinue missile tests. These steps aim to create a more stable environment and prevent further escalation of conflict. The agreement lays the groundwork for future diplomatic engagement, but its success depends on both sides following through on their commitments and overcoming significant challenges ahead.