Ships are positioning themselves for oil flows to resume through the Strait of Hormuz as a U.S.-Iran agreement promises to reopen the critical waterway. The strait normally carries about 20% of the world's petroleum supply, making it a vital chokepoint for global energy markets.

Seafarers remain cautious despite the diplomatic breakthrough. Some vessels already trapped in the Persian Gulf have begun moving toward the strait in anticipation of the reopening. However, shippers say they need an extended period of calm before sailing normally through the narrow passage.

The reopening would reduce inflation pressures worldwide by lowering transport, manufacturing, and consumer fuel costs. This could give central banks, particularly in oil-importing economies, more flexibility to maintain steady interest rates or revive rate-cut plans. Hamad Hussain, commodities economist at Capital Economics, noted that restoring prewar energy supply levels will prove difficult given damaged facilities and halted production.

Despite the potential benefits, the deal's impact will be uneven and gradual. Clearing the current bottleneck in shipping lanes and rebuilding confidence among international carriers will take considerable time, delaying the full economic relief that markets are pricing in.