The Strait of Hormuz is back open — but the crisis is far from over. Iran has announced that the world’s most critical oil chokepoint is now open to commercial shipping during the ceasefire. The move sent oil prices plunging over 11%, easing fears of a historic global energy shock. But there’s a catch. Ships must follow strict Iranian-controlled routes, and President Donald Trump has made it clear: the U.S. naval blockade on Iran is still in place.
