Strait of Hormuz traffic remains far below normal as oil prices stay elevated

Traffic through the Strait of Hormuz remains a fraction of normal levels despite a fragile ceasefire and renewed talks aimed at ending the conflict involving the United States, Israel and Iran. The waterway, which carries about 20% of the world's oil, has reopened in principle, but shipping and energy markets have not returned to normal. Oil prices are still around 30% above pre-war levels, and companies are still treating the route with caution.