A convoy of oil tankers and commercial vessels began transiting the Strait of Hormuz on Sunday after Iran's foreign minister issued a formal declaration late Saturday confirming the critical waterway was open to international shipping. Marine tracking data showed at least two dozen vessels that had been holding position in the Gulf of Oman for days began moving northwestward through the strait in the early morning hours, marking the first significant resumption of normal traffic in over a week.

The development follows a tense standoff that had rattled global energy markets and drawn urgent diplomatic pressure from Washington, Riyadh, and European capitals. Brent crude futures dropped more than three percent in early Asian trading on Sunday as traders priced in the easing of the immediate supply disruption, though analysts cautioned that underlying tensions between Iran and the United States had not been resolved.

U.S. President Donald Trump, who had publicly pressed for the waterway's reopening ahead of the November midterm elections, claimed credit for the breakthrough on social media, saying American diplomatic and naval pressure had compelled Tehran to back down. Iranian officials rejected that characterisation, insisting the passage had never been formally closed and that the resumption of traffic reflected Iran's own decision to de-escalate rather than any concession to Washington.

The Indian Navy, which had repositioned two frigates to the northern Arabian Sea earlier in the week citing its obligations in the Indian Ocean Region, confirmed that its vessels would remain on station pending further assessment of the security environment. Indian officials said New Delhi welcomed the reopening but stressed the need for a durable international framework to guarantee freedom of navigation through the strait.

Shipping industry groups cautioned that war-risk insurance premiums for Hormuz transits remained elevated and that a full return to pre-crisis freight rates could take several days. Roughly 20 percent of the world's traded oil passes through the strait. Analysts at several major banks said the episode had underscored the vulnerability of global energy supply chains and was likely to accelerate Gulf state investment in overland pipeline alternatives.