Oil Flows Resume Through Hormuz as Insurers Remain Wary

Politics, Geopolitics & Conflict Everyone is hoping the U.S.-Iran deal holds, but Hormuz is still operating on political trust instead of commercial confidence. The U.S. has lifted its naval blockade; Iran and the U.S. have signed the 14-point memorandum; and tankers have started moving again through the strait (including Saudi supertankers carrying millions of barrels of crude). Still, shipping companies and insurers have to decide whether the route is safe enough to normalize operations. The mines can be cleared, but without any guarantees…