The Strait of Hormuz Is Reopening. But 550 Ships Are Still Stuck and 80 Mines Remain
President Trump and Iranian President Masoud Pezeshkian signed a 14-point memorandum of understanding on June 18, 2026, pledging to reopen the Strait of Hormuz. Oil prices dropped below $80 per barrel on the news. But the strait isn’t actually open yet, not fully, and getting there will take months.
The deal was signed at the Palace of Versailles in Paris, with French President Emmanuel Macron present, while Trump was in France for the G7 Summit. The MOU calls for Iran to allow free commercial passage through the strait for 60 days while longer negotiations continue on the future of Iran’s nuclear program and the waterway’s long-term status.
Here’s what’s actually happening on the water.
What the deal says
The 14-point framework, first detailed by Newsweek and Al Jazeera, includes:
- Iran will reopen the Strait of Hormuz and allow safe passage of commercial vessels at no charge for 60 days
- The United States will immediately lift its naval blockade
- Iran and Oman will negotiate the long-term administration of the route
- A new 60-day window begins for nuclear talks
- Sanctions waivers go into effect as part of the agreement
Per NBC News, the MOU was described as an interim agreement, a framework, not a final treaty. The hardest questions (Iran’s nuclear program, long-term Hormuz governance, full sanctions relief) remain unresolved.
The mine problem
The central route through the Strait of Hormuz still has an estimated 80 mines that need to be cleared before normal shipping can resume through it. Ships have been using a smaller northern route through Iranian waters and a southern route through Omani waters, both of which appear to be functional.
Mine-clearing operations are underway, but CNBC reported that industry executives and shipping experts warn it will take weeks to clear the backlog of vessels stranded on either side.
As of June 19, 2026, approximately 550 ships remain held up, some waiting to transit, some already anchored in the Gulf having been unable to leave for months. Analysts estimate it could take four months for shipping to fully normalize, even after mines are cleared and the MOU is implemented.
Why the strait matters
The Strait of Hormuz is the narrow passage between Iran and Oman through which roughly 20% of the world’s oil supply flows. When Iran closed it in early 2026 following a military escalation with Israeli and US forces, it triggered immediate supply shocks: oil spiked, shipping insurance rates became prohibitive, and tankers began diverting around the Cape of Good Hope, adding weeks and significant cost to each journey.
Phundi covered the initial closure and its gas price impact when the crisis began. This is the follow-up: the geopolitical piece came together, but the physical reality of reopening a mined, congested, four-months-shut strait takes considerably longer than signing a document in Paris.
“Strait of Hormuz reopening may take weeks to ease shipping backlog and oil pressure.”, CNBC headline, June 18, 2026
What happened to gas prices
Oil prices fell below $80 per barrel on news of the deal, a significant drop from the highs seen during the closure. Traders are pricing in the expectation that Hormuz supply will resume, pushing the price down in anticipation.
Whether that expectation holds depends on how quickly mines are cleared, how many of the 550 stranded tankers can begin moving, and whether the political agreement survives its first stress tests.
Per CBS News, nuclear talks scheduled for Switzerland have already been postponed. The MOU is more fragile than the ceremony at Versailles suggested.
What people are saying
Reactions split along familiar lines, with skeptics questioning whether the 60-day window leads anywhere and supporters pointing to the price drop as immediate evidence the deal is working.
“The oil price drop is real money for everyone who drives or heats their home. If this holds, it matters.”, r/worldnews
“A 60-day window on the world’s most important shipping lane, with mines still in the water. This is not a solved problem.”, X financial analyst post
“Trump signs deal at Versailles, nuclear talks get postponed immediately. Hope the photo was worth it.”, political commentary thread
The immediate test will be whether tankers resume normal transit in the coming days. Shipping trackers at Straits.live are monitoring the situation in real time.
The deal is signed. The strait is legally open. Getting the actual ships through is the part that takes longer.
