Strait of Hormuz oil shipments fall toward pre-peace deal levels as war reignites - Yahoo Finance
Oil shipments through the Strait of Hormuz have dropped significantly as the ceasefire between the U.S. and Iran collapsed. This decline has caused global oil prices to rise, reversing previous economic recovery trends.
Why it matters
The disruption of a major global oil chokepoint threatens energy security and could lead to increased inflation and economic instability worldwide.
Strait of Hormuz oil shipments fall toward pre-peace deal levels as war reignites Jake Conley · Breaking Business News Reporter Wed, July 15, 2026 at 1:29 PM EDT 3 min read CL=F +0.98% In the roughly month-long window when the US and Iran's preliminary agreement to end the war seemed to hold, oil shipped through the Strait of Hormuz began to quickly recover.
Oil flows climbed to roughly 50% of pre-war levels, while those from the wider Persian Gulf region reached near 80% of their pre-war status, pushing oil prices down and leading the global economy into the early days of a post-war recovery.
Yet over the past week, that progress has sharply reversed, according to Goldman Sachs, as the memorandum of understanding (MOU) fell apart and the ceasefire gave way to days of fighting between the US and Iranian militaries.
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