Strait of Hormuz oil flows rise; Iran wartime leverage shifts

Oil traffic through the Strait of Hormuz has increased, signaling a partial normalization of tanker transits after prior disruptions. The shift reduces Iran's ability to threaten global supply as a wartime lever, though the underlying security situation remains fluid. This matters because Hormuz carries roughly 20% of global oil, so any change in flow volume directly impacts supply expectations and risk pricing.