Hormuz Standoff: Iran’s Conditions to Reopen 20% of Global Oil Flow

Iran has demanded the lifting of U.S. sanctions as a precondition for reopening the Strait of Hormuz, the critical waterway that once handled 20% of global oil supplies. Six months into the conflict, shipping traffic through the strait has collapsed to between 5% and 15% of normal levels, according to vessel-tracking data. Preliminary figures released Friday showed only seven commodity vessels transited the strait on Thursday—less than half the previous day’s total of 17 and well below the 10-day average of 15. Analysts attribute the decline to Iranian threats against…

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