Wolfe Research notes Iran's foreign minister announced full reopening of Strait of Hormuz for commercial vessels during ceasefire, implying no tolls.
Paper oil futures plunged over 10% while U.S. equities rose modestly after the announcement, reflecting mixed market reaction.
Shipping groups like Hapag‑Lloyd and Norwegian Shipowners’ Association cite safety, mines and implementation issues before resuming transit.
Wolfe Research says scaled traffic could be significant but tanker availability and production ramp‑up may delay full flow restoration.