Commercial vessels, many laden with crude oil, have begun departing the Strait of Hormuz, Donald Trump declared on Monday, hours after confirming a peace agreement with Iran that ends a 107-day conflict and reopens the world’s most critical energy chokepoint. In a post on his Truth Social platform, the US president said the ships were transiting a southern route that is “totally safe, protected and immaculate,” adding that other transit zones were also available. The announcement, made as he travelled to the G7 summit in Évian, France, marks the most concrete step yet towards normalising maritime traffic through a passageway that handles roughly a fifth of global oil consumption.

The breakthrough follows weeks of intensifying negotiations and a sharp escalation that had seen Washington impose a naval blockade on Iranian ports. Viewed from Tehran, the accord represents a significant diplomatic victory: Iran has agreed to regulate shipping in the strait in coordination with Oman, while securing the lifting of American restrictions without, according to Trump, any new transit fees being levied on commercial vessels. Vice President JD Vance reinforced this point, stating the US expectation that “peajes” — tolls — would not be charged, though Iranian officials have previously hinted at navigation service charges. The deal, set to be formally signed on Friday, was welcomed by leaders across several continents, reflecting the global stakes involved.

From the perspective of energy markets, the initial reaction was swift and positive. Crude prices fell on the news, offering a tentative reprieve to import-dependent economies in Europe and Asia that had been bracing for prolonged disruption. However, shipping industry analysts in London cautioned that a full return to normal traffic patterns could take weeks. The logistical complexities of repositioning tankers, verifying safe passage corridors, and rebuilding insurer confidence mean the Strait’s reopening is a process rather than an instantaneous event. The southern route referenced by Trump, closer to Oman’s coastline, is being presented as a secure alternative while broader navigational protocols are re-established.

Regional observers note that the agreement, while fragile, reshapes the security architecture of the Gulf. The US commitment to lift its naval blockade simultaneously with the strait’s reopening suggests a carefully choreographed de-escalation. Oman’s role as a coordinating partner underscores Muscat’s quiet but persistent diplomacy in a region often polarised between Riyadh and Tehran. For the global economy, the resumption of unimpeded tanker traffic through Hormuz removes a persistent risk premium that had threatened to push energy prices higher and complicate central banks’ efforts to tame inflation.

Looking ahead, the formal signing ceremony on Friday will be scrutinised for details on enforcement mechanisms and the scope of Iran’s regulatory authority. While Trump’s characteristically bullish tone — “Let the oil flow!” — projects confidence, analysts in Washington and Brussels remain watchful. The absence of a detailed framework raises questions about how disputes over navigation rules or future incidents will be managed. For now, though, the sight of tankers moving again through the strait offers a tangible sign that one of the year’s most dangerous flashpoints may be cooling.