• Iran commits to boosting commercial transit through the Strait of Hormuz to pre-war levels within 30 days, state media reports.
  • The move signals progress in diplomatic efforts to stabilize the crucial energy chokepoint after recent conflicts.
  • Global oil and LNG markets are closely watching, as any sustained normalization could ease shipping costs and insurance premiums.

Hormuz Strait Transit Restoration Gains Momentum

Iran’s state television announced on Thursday that Tehran has agreed to restore the number of commercial transit ships passing through the Strait of Hormuz to pre-war levels within one month, according to people familiar with the matter. The pledge comes as part of ongoing negotiations aimed at stabilizing the strategic waterway, through which roughly a fifth of global petroleum shipments flow.

“The commitment is a tangible step toward normalizing traffic,” said an Iranian official briefed on the talks, who spoke on condition of anonymity because the discussions are private. The official added that Iran is also working to establish a clearer regulatory framework for vessel passage, including potential tolling mechanisms.

Global energy markets have been on edge since the conflict disrupted shipping routes, sending insurance premiums soaring and forcing some tankers to seek alternative paths. Traffic has edged higher from wartime lows but remains cautious, with ship operators demanding assurances of safe passage.

“Any credible signal that transit volumes are returning to pre-war levels within a month is hugely significant,” said a London-based shipping analyst. “It could unlock capacity and reduce freight costs, but the devil will be in the details—insurers will want to see consistent implementation before they lower rates.”

Iran’s offer coincides with separate efforts by Gulf states and international intermediaries to broker a broader ceasefire arrangement. The U.S. State Department declined to comment on the reported pledge, but a spokesperson reiterated Washington’s position that the strait must remain open to international commerce.

Prior to the conflict, the Strait of Hormuz saw an average of roughly 20 million barrels of oil and petroleum products transit daily. Any sustained return to that level would have a material impact on global supply chains and energy prices.

A spokesperson for Iran’s Foreign Ministry did not immediately respond to requests for comment. The Islamic Republic has previously signaled willingness to ease transit restrictions as part of confidence-building measures.

Correction: An earlier version of this article mischaracterized the timeline of the commitment. Iran's pledge targets restoration within one month, not two.