Oil tankers are exercising caution in navigating the Strait of Hormuz after Iran declared it open for commercial vessels on Friday. Video footage has surfaced, but the announcement from Tehran has sparked mixed reactions, contributing to volatility in the oil market. Oil futures experienced a significant decline, with West Texas Intermediate crude dropping 12% to settle at $83.85 per barrel, while Brent crude fell by 9%.
Confusion reigns regarding the actual status of the strait, as statements from Iranian officials clash with comments from U.S. President Donald Trump. Iran’s Foreign Minister, Seyed Abbas Araghchi, proclaimed that the waterway was “completely open” during the ceasefire with the U.S. and Israel. However, reports from Iranian media associated with the Revolutionary Guard outlined specific conditions for safe passage that echo longstanding restrictions imposed by Tehran.
Director of commodity research at Kpler, Matt Smith, noted that several tankers attempted to exit the strait via a route around Larak Island but quickly turned back, indicating they had not received proper clearance for their passage. Commercial vessels are required to adhere to a route designated by Tehran and coordinate with its military. A source close to Iran’s Supreme National Security Council informed Tasnim News that ships linked to “hostile nations” would be denied passage.
Maritime risk analyst Tomer Ranaan from Lloyd’s List Intelligence commented on the ambiguity surrounding these developments, stressing that Iran still wants vessels to transit through its territorial waters. Meanwhile, Trump reaffirmed that the U.S. naval blockade of Iran remains in effect, raising concerns that Tehran may retaliate by closing the strait entirely. As a result, Matthew Wright, a senior freight analyst at Kpler, characterized the situation as “functionally closed,” stating, “It is a false dawn.”
The world’s largest shipping association, BIMCO, recommended that vessels avoid the strait due to ongoing threats from mines. Jakob Larsen, BIMCO’s chief security officer, noted that the area has not been deemed safe for transit at this time. While diplomatic discussions between the U.S. and Iran may provide temporary relief to oil futures, they do little to alleviate the physical disruption to energy supplies, which is expected to worsen as long as the strait remains closed.
As oil and product tankers have completed their lengthy voyages to destinations across Asia, Europe, and North America, supply shortages loom. One notable shipment, a tanker of Iraqi crude, is scheduled to reach Long Beach, California, next week. Wright warns that the halt in oil movement through the strait will trigger a ripple effect, with refineries in Asia, highly reliant on Middle Eastern oil, potentially forced to reduce output. “The supply crunch in Asia is bigger than anywhere else,” he added, noting that onshore inventories are being significantly depleted.
It could take months for traffic through the Strait of Hormuz to normalize, as larger shipping companies may choose to wait and observe market reactions before resuming operations. The situation remains fluid, and stakeholders are bracing for the implications of continued disruptions in this critical maritime corridor.
Correction: An earlier version of this article misspelled Tomer Ranaan’s name.
Original Source: https://www.cnbc.com/2026/04/17/iran-trump-strait-hormuz-oil-tanker-traffic.html
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Publish Date: 2026-04-18 04:18:00
