Iran re-closed the Strait of Hormuz on June 20, just 48 hours after the US-Iran memorandum reopened it on June 18, when over 12.5 million barrels shipped on Wednesday night. The IRGC navy warned vessels of mines and targeting, citing ongoing Israeli violations of the Lebanon ceasefire and US failure to implement the deal's first clause. The closure is being used as leverage at Geneva negotiations to secure a full Lebanon ceasefire. The new Persian Gulf Strait Authority now requires ships to register before transit. Brent crude hovered around $81/barrel, down from the $116+ peak during the full blockade. War risk insurance remains at 1.5-8% of vessel value, indicating insurers view the risk as unresolved. The straits.live monitor shows effectively zero commercial transit as of June 22.
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