Crude oil shipments near the Strait of Hormuz have shown signs of recovery, easing market concerns about supply disruptions. Reports indicate that approximately 40 very large crude carriers (VLCCs) are awaiting passage through this crucial shipping route following the signing of a new memorandum of understanding.

Approximately 80 million barrels of crude oil are awaiting shipment.

The tankers waiting to pass have a combined cargo capacity of approximately 80 million barrels of crude oil. The Strait of Hormuz connects Gulf oil-producing countries with major global consumer markets; once passage is restored, the pace of crude oil shipments is expected to accelerate.

This means that the supply risks previously heightened by the conflict are easing. For the energy market, the resumption of tanker passage not only affects short-term deliveries but also influences global crude oil supply expectations.

Oil prices have fallen from wartime highs

International oil prices rose above $120 a barrel due to the conflict. However, with expectations of a recovery in transportation, prices have fallen back to around $77, indicating that market pricing in the worst-case scenario is weakening.

We'll see how things progress after the actual opening of the air route.

The market will now focus on whether these waiting tankers actually set sail and clear the way. If shipping resumes smoothly, oil prices could continue to move closer to pre-conflict levels of around $67 per barrel.

The Strait of Hormuz is a vital global energy transport route, and its operational status often has a rapid impact on crude oil, shipping, and inflation expectations. If this resumption of passage continues, tensions in the global energy market are expected to ease further.