Both Iran and the U.S. have said their talks, via mediators such as Pakistan and Qatar, are making progress.

The outsized profits on offer for getting cargo out are drawing wide-ranging interest — from established players in the oil market to relative newcomers.

The Idemitsu Maru, a very large crude carrier that passed through the waterway in late April, could dock as soon as May 25.

Tehran has signaled it will keep control over Hormuz even after the war, to deter future attacks from the U.S. and Israel.

State-owned Shipping Corp. of India is ready to go back to the Persian Gulf once it has approval from the Indian Navy.

UN Department of Economic and Social Affairs Director Shantanu Mukherjee said that this would represent one of the weakest growth rates so far this century.

Iran has shown little interest in loosening its hold on the waterway, insisting it wants to maintain a degree of control even after the end of the war.

The state said that it plans to continue to press separate a claim against the Dali's shipbuilder, Hyundai Heavy Industries.

While Iran has yet to explicitly claim responsibility for the incidents, a senior Iranian official reiterated the country's claim to the Strait of Hormuz.

Roughly 14.6 million barrels a day of crude oil and petroleum liquids moved through the strait in Q1 of 2026, down from 20.4 million over that same period last year.