Hormuz back online: shipping backlog could take weeks to clear and months to fully normalize

Ships are gradually crossing the Strait of Hormuz after a US-Iran peace deal, but experts warn the 500-ship backlog will take about eight weeks to clear and it could take up to two months to restore traffic to pre-war levels. The strait handles roughly 20% of world oil, and even once regular flow resumes, the commercial system may normalize slowly amid ongoing disputes over ownership and remaining mines. Gas prices could slip in the coming weeks as crude prices ease, but returning to pre-war levels may take several months, with broader inflation and transport costs potentially affected by any longer-term changes in tolls or rerouting.