Strait of Hormuz traffic returns to normal by June 15?
June 23, 2026 · $12.1M volume
Why it resolved
The Strait of Hormuz remained largely blockaded from February 2026 through mid-June. After two massive price declines (May 27: 23¢→12¢, June 6: 12¢→1¢), the market priced in near-zero probability of normal traffic restoration by June 15. A US-Iran MOU on June 19 briefly resumed some transits (25 vessels on June 20, highest since mid-April), but this came 4 days after the deadline, and Iran re-closed the waterway on June 22 over Lebanon tensions, leaving transit calls far below the 60-vessel 7-day threshold throughout the contract period.
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