Oil Industry Makes Tentative Moves Ahead of Deal to Open Hormuz (opens original article in a new tab)

The oil and shipping industry is cautiously preparing for the potential reopening of the Strait of Hormuz, with some ships rerouting and Iran moving tankers out of the area, while Iraq takes steps to resume exports.

• Oil and shipping industry is cautiously preparing for potential reopening of Strait of Hormuz.
• Some ships are rerouting toward Middle East while Iranian tankers move out of the area.
• Iraq is taking steps to resume oil exports once maritime navigation normalizes.