According to a U.S Official, the oil flows through the Strait of Hormuz have almost returned to pre-war levels after President Donald Trump signed an interim peace agreement with Iran.
The jump in trade occurred because Washington stepped in and ended the war, which had led to a surge in oil prices globally, the official added.
Before the U.S-Iran war, the strait handled around 20% of global oil and natural gas, amounting to 20 million barrels a day.
At present, around 10 million barrels pass through the strategic waterway daily, along with an additional 5 million through alternative routes, bringing the total flow to almost pre-war levels.
The volume of trade has shocked Iranian leaders since this translates to a diminishing capacity to disrupt the waterway.
This is what led Iran to attack ships in the waterway recently, the official said.
However, Iran will not give up so easily, as its chief negotiator, Mohammed Bagher Ghalibaf, stated on state television, “Sovereignty over the corridor belongs to Iran and Oman.
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