Hormuz Shipping Remains Subdued Despite Apparent Reopening

Politics, Geopolitics & Conflict Hormuz is “open”, but nowhere close to functioning normally. The U.S. has cleared mines from the internationally recognized shipping lanes and can technically get vessels through, but Iran’s military capability will still keep most commercial operators away. Only five commodity vessels crossed on Tuesday, compared to some 130 ships a day before the war. Iran is offering a temporary and limited corridor while making full normalization conditional on sanctions relief, an end to the U.S. blockade…