Seven months after fighting broke out between the United States, Israel, and Iran, the Strait of Hormuz remains at the center of the global energy picture, with the U.S. military continuing to escort tankers through the narrow waterway.
The head of U.S. Central Command, Admiral Brad Cooper, said this week that the U.S. military has supported the transit of one billion barrels of oil, natural gas, and cargo through the Strait of Hormuz over the past two months, and that the volume moved in the past two weeks is the highest it has been in six months. Before the conflict began in late February, about one-fifth of the world's traded oil and natural gas passed through the strait each day. The United States reimposed a naval blockade on Iranian ports in July after a temporary arrangement broke down, and Cooper said Iran has not exported oil since. Independent monitors say overall shipping traffic through the strait remains well below prewar levels, and Brent crude has traded above $100 a barrel in recent sessions, a level not seen in years.
Elsewhere in the region, Saudi-led coalition air defenses intercepted a ballistic missile aimed at Riyadh on Saturday, according to the coalition, which said it was fired from Yemen. In southern Lebanon, Lebanese state media reported new Israeli airstrikes in the Nabatieh area early Sunday, part of continued activity along a framework agreement that had been negotiated with U.S. involvement earlier this year. Energy officials, including U.S. Energy Secretary Chris Wright, have said in recent weeks that flows through Hormuz have recovered to roughly two-thirds or more of pre-conflict levels, even as prices have continued to climb, a divergence that analysts attribute to the broader disruption the conflict has caused across regional energy infrastructure.
For consumers, the practical effect has shown up at the pump and in shipping costs, with diesel prices in the United States hitting fresh records this month. The elevated energy costs have also become a factor in domestic monetary policy, feeding into the inflation picture that led the Federal Reserve to raise interest rates this past week.
Markets will continue watching CENTCOM's shipping updates and any further missile or strike activity in the Gulf, Lebanon, and Red Sea corridor for signs of further escalation or stabilization.
Why are oil prices still high if the strait is open to traffic?
Officials say traffic has recovered significantly, but monitors note it remains below pre-conflict levels, and the broader regional disruption has kept prices elevated even as flows improve.
How long has the conflict affecting the strait been going on?
The current period of tension dates to strikes in late February 2026, with the naval blockade of Iranian ports first imposed in April and reinstated in July.