A day after the US and Iran signed an agreement to end the conflict in Iran and after months of having slowed to a trickle, traffic in the Strait of Hormuz appears to be picking up.
In an update early Friday morning, global trade intelligence firm Kpler wrote that Hormuz traffic shows "recovery."
"Verified Strait of Hormuz crossings reached 25 on 18 June, marking a notable increase in daily maritime activity," Kpler wrote.
Here's another map that shows vessel movement in the strait over a 24-hour period on June 18:
Some 20% of the global supply of liquefied natural gas and oil flows through the Hormuz. The waterway has been closed since February 28, sending oil prices shooting up and setting off what the International Energy Agency said in March was the largest disruption ever seen in global oil markets. Prices eased this week following the signing of the interim deal.
The change in Hormuz traffic comes on the heels of the US and Iran signing a 14-point memorandum of understanding (MoU) on Wednesday. Under the agreement President Donald Trump and Iranian President Masoud Pezeshkian signed, commercial ships can resume traveling through the Strait of Hormuz. Iran has agreed not to charge tolls in the Strait for the next 60 days.
The US will begin lifting its naval blockade of the waterway right away, with the restrictions expected to be fully removed within 30 days, senior officials said.
While both sides signed the MoU, the high-level talks between the US and Iran that were scheduled for Friday in Switzerland have been delayed.
"The planned talks between the US, Iran, Qatar and Pakistan have been postponed. Switzerland remains ready to facilitate these talks. The relevant preparatory work at Bürgenstock is continuing. No further information can be provided at present," the Swiss Federal Department of Foreign Affairs said in a statement.
The trip was meant to solidify the agreement between Tehran and the US to end the four-month conflict in Iran.
On Thursday, Vance said during a White House press briefing that his "plan is to go to Switzerland," but he was unsure "exactly when." That evening, a White House spokesperson said Vance would not travel to Switzerland on Friday, per a statement to The New York Times.
"The plans for the upcoming technical talks have not been finalized, and the US delegation has been prepared to depart at the first available opportunity," the White House said in the statement. "But the logistics of these negotiations have never been simple or predictable."
The White House did not immediately respond to a request for comment from Business Insider.
As part of the MoU, the US and Iran also opened a 60-day timeframe for negotiations on Iran's nuclear program.
