The Strait of Hormuz has officially reopened, bringing a sigh of relief to the global economy as shipping activity begins to accelerate. However, normal operations may not resume until 80 mines are cleared from the waterway. While oil prices drift lower due to the anticipated wave of supply from tankers ready to transit, concerns about ongoing safety and security persist. The recent U.S.-Iran agreement allows Iran to impose maritime fees in the strait after a 60-day toll-free period, a move that has raised alarms among industry leaders fearing the precedent it may set. Despite some tankers already crossing, many shipping companies remain cautious, with some experts predicting it could take months for shipping flows to stabilize post-reopening. As negotiations continue, the geopolitical dynamics of the region complicate the situation further, reflecting deep uncertainties in global shipping operations.