US-Iran Two-Week Ceasefire Opens Strait of Hormuz at 12% Capacity

The US and Iran reached a two-week framework ceasefire that opened the Strait of Hormuz at roughly 12% of normal capacity.

“Iran threatens truce over Lebanon strikes, tightens Hormuz control Less than 24 hours after the US–Iran ceasefire took effect, signs of strain are already evident”

Al-Monitor

Iran framed the arrangement as a permission-based system coordinated with its armed forces, effectively acting as a gatekeeper.

Al-Monitor

The Trump administration insisted the opening would be immediate, quick and safe, but industry sources cautioned it was a cautious thaw.

Five days after the truce began, the strait still had not fully reopened and traffic remained limited to about 11 vessels.

Despite the ceasefire, tensions flared across the region.

Israel continued strikes against Hezbollah in Lebanon, killing at least 182 people on the deadliest day of fighting.

AP News

Iran re-closed the Strait of Hormuz on March 27 and 29 after Israeli strikes in Lebanon.

Iranian parliament speaker accused the US of breaking three of Tehran's 10 conditions.

Vice President Vance led an American delegation to Pakistan for peace talks.

“Oil prices plunge and shares jump on US-Iran ceasefire plan Global oil prices have fallen sharply and stock markets soared after the US and Iran agreed to a conditional two-week ceasefire deal that includes the reopening of the key Strait of Hormuz waterway”

BBC

The talks were brokered by Pakistan after several weeks of backchannel diplomacy.

The White House emphasized the deal was a framework and not a final peace.

The disruption of global energy markets had already caused trillions in economic losses.