U.S. Vice President JD Vance says that more than a dozen ships have been allowed through the Strait of Hormuz to Iranian ports, as traffic appears to be gradually returning to the Strait of Hormuz.

According to the Associated Press, Vance said that more than 12.5 million barrels of oil have traveled through the strait since the night of June 17, after President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding to open a larger 60-day negotiating window, and end the war in Iran. Data from Lloyd's List Intelligence (LLI) indicates that ships that have been trapped in the strait since February have started exiting the waterway.

In total, LLI estimates that 550 merchant ships will need to prepare to exit the gulf in the coming days, including 160 tankers, 200 bulk carriers, 60 container ships and 10 vehicle carriers. However, they did not share the exact number of ships that have actually passed through the strait since June 17. Trade group Intertanko also tells the AP that ships are primarily moving through the strait's smaller northern and southern routes, and that the main central passage through the Strait of Hormuz remains closed, given that roughly 80 mines still need to be cleared before its safe to transit.

According to CNBC, trade intelligence company Kpler estimates that 118 tankers stuck in the Persian Gulf could exit through Hormuz within 15 days once the shipping industry is confident in the Iran deal. Within 30 days of the deal, a dozen tankers might enter the Gulf daily to fetch oil, according to Kpler’s forecast.

As part of the MOU signed on June 17, the U.S. will agree lift its sanctions against Iran, unfreeze Iranian assets, end its blockade in the Strait of Hormuz, and work to develop a $300 billion reconstruction fund. In return, Iran will allow safe passage through the strait with no tolls for 60 days, and promises not to procure or develop nuclear weapons.