Hormuz traffic rebound returns oil to prewar rates, as US reassures wary Gulf allies (opens original article in a new tab)

Oil prices returned to prewar levels as Hormuz traffic normalized, with the US reassuring Gulf allies and Iran maintaining control over shipping routes.

• Oil prices rebounded to prewar levels as Hormuz traffic approached normal
• Iran insists on controlling shipping routes in the Strait of Hormuz
• US reassures Gulf allies about no tolls on ships through the strait