Shipping Firms Delay Vessel Deployments Until U.S.–Iran MoU Takes Effect

Global market analysts have cautioned that the U.S.-Iran deal and the potentially imminent reopening of the Strait of Hormuz do not mean that oil and gas trade will quickly return to its previous levels.
Already, some shipping companies have made it clear that they will wait until the deal is formalized on Friday before attempting to cross the Strait. Even for shipowners who are willing to make the crossing, organizing insurance and other practical issues could further delay the recovery.
The announcement of the deal is just the first step, and it could take months for oil and gas shipments in the region to return to pre-war levels.
Middle Eastern producers have been forced to shut ...