Iran Hormuz reopening: Strait declared safe as Lebanon ceasefire holds

Muhammad Asghar | GlobalBeat

Tehran reopened the Strait of Hormuz Tuesday after a week-long voluntary closure tied to Israeli strikes in Lebanon.

The Islamic Revolutionary Guard Corps announced at 08:14 local time that “all shipping lanes are completely open and all naval units have returned to routine patrol.”

About 20 percent of global oil and one-third of the world’s liquefied natural gas pass through the narrow waterway. The closure had sent Brent crude above $110 and forced the Pentagon to stage an extra aircraft carrier in the Gulf.

IRGC naval commander Alireza Tangsiri told state television that commercial tankers had been escorted through Iranian waters on Monday night as a final test run. “Not a single incident occurred. The threat has passed,” he said.

Shipping sources in Fujairah confirmed that the very-large-crude-carrier Desh Vira was the first fully-laden tanker to transit eastbound after receiving clearance via VHF channel 16 at 08:20.

Oil prices slid on the news. Front-month Brent futures dropped $3.40 to $106.85 within 90 minutes of the announcement while West Texas Intermediate fell below $101 for the first time since October 27.

Iran’s Ports and Maritime Organization said the decision followed “positive regional signals,” a reference to the U.S.-brokered truce that ended eight days of Israeli air raids on Hezbollah targets in Lebanon at 00:00 Tuesday.

Israeli Energy Minister Eli Cohen said the reopening was “no coincidence” but declined to confirm any private assurances given to Iran. President Donald Trump told reporters at the White House he “accepted Tehran’s gesture” but kept U.S. sanctions in force.

Insurance underwriters in London wasted no time lowering the war-risk premium for Hormuz voyages. “We cut the surcharge from 2.5 percent to 0.6 percent within an hour,” said Chris Beckwith of P&I club NorthStandard.

Oman, which had deployed two corvettes during the standoff, reported normal naval traffic by late morning. “Our radar shows 14 tankers moving southbound. This is roughly pre-crisis volume,” a Royal Navy of Oman officer told GlobalBeat on condition of not being named.

Still, Gulf shippers expressed lingering unease. “We will keep charter clauses that allow deviation if Iran re-closes,” said Rishi Mehra, fleet director at Mumbai-based Great Eastern Shipping.

Iran had shut the choke-point on November 4 hours after Israeli jets hit Hezbollah arms depots in Beirut’s southern suburbs. The IRGC warned then that “any hostile use of regional airspace” would trigger disruption of oil flows, a move last attempted in July 2018 without success.

Western diplomats viewed the closure as a calibrated signal rather than an outright blockade. Boardings that occurred last week involved rapid inspection teams, not seizures, and no commercial crews were detained.

Saudi Arabia, which ships most of its crude through Hormuz, kept exports steady by accelerating flows via the 5 million bpd East-West pipeline to the Red Sea. Analysts estimate the detour cost the kingdom about $1.1 million per supertanker in extra freight.

In Lebanon, the ceasefire held through its first 12 hours. Residents of Dahieh, the Hezbollah-controlled district flattened by Israeli bombs, picked through rubble while Lebanese army units deployed along the coastline. Health officials have raised the confirmed death toll to 142, including 17 children.

Background

The Strait of Hormuz is 21 nautical miles wide at its narrowest, with two 2-mile-wide shipping lanes separated by a buffer. Iranian territorial waters hug the northern lane, giving Tehran the ability to halt or slow vessels under the guise of inspection.

Tensions over the passage go back four decades, starting with the 1980s Tanker War when Iran and Iraq attacked neutral shipping. The U.S. Navy’s 1988 Operation Praying Mantis sank part of Iran’s fleet after the USS Samuel B. Roberts hit a mine. Through the 2019 drone shoot-down and 2021 seizure of a South Korean chemical tanker, Washington has always stopped short of blocking Iran from policing its own coastal zone.

What’s Next

Under the Lebanon ceasefire deal, mediated by U.S. envoy Amos Hochstein, Israel can resume strikes if cross-border fire resumes for 48 hours. Hezbollah retains its rockets but has reportedly agreed to keep them 20 kilometers north of the border. If either side breaches, analysts warn Iran could again restrict Hormuz, putting the globe’s energy supply back in jeopardy.

With Hormuz reopened, tanker owners must now decide whether to keep loitering outside or press on to Asian refineries before winter demand peaks. They will also watch Vienna, where EU officials say indirect nuclear talks with Iran could resume next month. A revived deal might lift sanctions on Tehran’s own exports and further shape flows through the newly unblocked strait.