world π’ Hormuz shipping is still low despite reopening talk
Hormuz shipping remains subdued even though the U.S. cleared mines from the lanes. This situation involves Iran, where only five commodity vessels crossed on Tuesday compared to 130 previously. Iran's limited corridor is tied to sanctions relief and ending Israeli operations in Gaza, Lebanon, and Syria. Washington cannot guarantee the required Israeli concessions, complicating any immediate normalization. The administration is now hoping economic pressure forces Tehran to agree to worse terms.