Is the strait open or not? The signals are unclear, but regardless of what Iran says, there are growing signs that increasing amounts of oil are making their way out of the Persian Gulf.
US Vice President JD Vance said on Monday that the strait is open, in comments about negotiations with Iran. Bloomberg reports that on Saturday oil ships carrying 17 million barrels passed through the Strait of Hormuz, based on data from US Central Command. That is almost equal to levels before the start of the war.
The data is difficult to verify. It is usually possible to track the ships via identification systems, but many ships have their transponders turned off for fear of being detected.
On Monday, the Joint Maritime Information Center lowered the threat level to "moderate," according to Bloomberg.
In the afternoon, US Treasury Secretary Scott Bessent announced on X that Iran will be allowed to produce and sell oil for 60 days.
A barrel of North Sea oil cost $77.80 at 4 p.m.
