Strait of Hormuz — Crisis Timeline
A sourced, filterable chronology of the 2026 Strait of Hormuz crisis — from the outbreak of war on 28 February through the fragile reopening. Every entry links to its source; many link to our deeper analysis. Price and threat lead the story; the lagging transit data confirms it.
Current phase — Fragile reopening — 60-day roadmap, transit erratic
Crisis day
116
Began
28 Feb 2026
Logged events
20
Last updated
23 Jun 2026
- Market#
Relief at the pump, but the system stays tight
Brent holds below $80 (~$77) as the de-escalation sticks. US commercial crude stocks fall 8.3M bbl to ~418M (≈6% below the five-year average) and UK pump prices ease (petrol 153.26p, diesel 172.47p) — relief, not resilience.
- Shipping#
A lopsided reopening
The tankers conspicuously back in the strait are largely Iranian — vessels that went dark during the war switch transponders on to rush crude out under the new US licence. Some Saudi, UAE and Qatari LNG cargoes move too, but broader international traffic stays thin, far below the 100-plus ships a day seen pre-war.
- Diplomatic#
US and Iran agree a 60-day roadmap
Talks in Switzerland produce a 60-day roadmap toward a final deal: a toll-free Strait of Hormuz, an end to Lebanon hostilities, a safe-passage communications line and a de-confliction cell. The JMIC cuts its Hormuz threat level to moderate and the US blockade ends.
Read our analysis →Sources: CNBC, CBS News - Market#
US authorises Iranian oil sales through 21 August
The US Treasury issues OFAC General License X, authorising the production, sale and delivery of Iranian-origin crude and petroleum products through 21 August 2026 — running oil trade through the sanctions apparatus rather than excluding Iran from it.
Source: US Treasury OFAC - Humanitarian#
Explosion at Qatar's Ras Laffan gas site
A blast at the Barzan plant in Ras Laffan during a war-halted restart kills 13 (12 of them Indian nationals) and injures 66. QatarEnergy brings the fire under control; authorities rule it a technical accident, not sabotage, with no danger to public safety.
Sources: Al Jazeera, CNBC - Military#
Iran declares Hormuz closed; the US disputes it
Iran's military declares the Strait closed and the IRGC warns vessels away, citing Israeli strikes in Lebanon. CENTCOM disputes a physical closure — saying 55 merchant ships transited carrying ~17M barrels, a record — so the war-risk premium returns on the declaration, not a demonstrated halt.
Read our analysis →Sources: CNN, CNBC - Diplomatic#
Switzerland talks abruptly postponed
Planned follow-up talks in Switzerland are postponed and renewed Israeli strikes hit Lebanon, weakening the de-escalation story. Brent ticks back up from its post-deal lows as the market reprices some risk.
Read our analysis →Source: CNBC - Diplomatic#
US–Iran memorandum signed to end the war
Trump and Iranian President Pezeshkian sign a memorandum of understanding to end the war; mediator Pakistan says Tehran will reopen Hormuz toll-free and the US blockade of Iranian ports will cease. Brent eases toward $80.
Read our analysis →Source: CBS News - Shipping#
Maritime threat level first reduced
The US-led Joint Maritime Information Center reduces its Strait of Hormuz threat level after the deal, an early signal to shipping that the acute phase may be easing — though mine-clearance warnings remain.
Source: CNBC - Market#
US lets its Russian-oil sanctions waiver lapse
With the Iran deal raising hopes of restored supply, Washington allows its waiver on Russian-oil sanctions to expire — a sign it judged the acute supply scramble to be easing.
Source: S&P Global Commodity Insights - Market#
Oil falls ~20% from its 2026 peak
Crude tumbles about 20% from the 2026 highs (Brent down ~19% for May) as investors grow optimistic on a lasting ceasefire that would unlock Hormuz — even as Iran fires ballistic missiles at Kuwait and sends drones toward the strait.
Source: CNBC - Market#
Exxon warns Brent could hit $150–160
Exxon's Neil Chapman warns physical Brent could spike to $150–160 within weeks as inventories near record lows. The IEA describes the Hormuz disruption as the largest oil supply interruption in history, with more than a billion barrels lost.
Read our analysis →Source: CNBC - Diplomatic#
Trump calls off an imminent strike wave
Trump says he has called off an imminent wave of military strikes against Iran to allow more time for negotiations; oil falls more than 10% in the days afterward as the market prices a path to de-escalation.
Source: CNBC - Diplomatic#
Iran says Hormuz is open — then reverses within hours
Iran's foreign minister announces the Strait is open to all shipping, but within hours the IRGC reverses course and re-declares it closed, citing ceasefire violations — Israeli strikes on Hezbollah in Lebanon that killed at least 16.
Read our analysis →Source: Al Jazeera - Military#
Islamabad talks fail; US declares a naval blockade
Vice-President Vance announces the Islamabad talks between the US and Iran have failed. Trump then declares a US naval blockade of the Strait of Hormuz, with the Navy to intercept ships that had paid transit tolls to Iran. The blockade of Iranian ports runs to late May.
- Shipping#
Ceasefire not honoured; ships still blocked
An agreement to lift the blockade shows no sign of being implemented, with ships again prevented from passing. Analysts warn that even after a deal, tanker traffic will take "weeks, if not months" to normalise.
Source: CNBC - Military#
US opens an air campaign to force Hormuz open
The United States begins an aerial campaign against Iranian targets to reopen the Strait of Hormuz after Iran's closure — escalating the conflict from threats and missile exchanges into a sustained campaign over the waterway.
- Market#
Brent tops $100 a barrel
Brent crude surpasses $100 a barrel as the near-total disruption of Hormuz shipping feeds through to prices. By the end of March, Brent is up about 65% (~$46) — its largest-ever monthly rise.
Source: World Bank - Shipping#
Tanker Skylight struck off Oman
The oil tanker Skylight is struck by a projectile north of Khasab, Oman, killing two Indian crew members and injuring three — an early sign of the physical danger that would empty the strait of commercial traffic.
- Military#
War begins; Hormuz traffic collapses
The United States and Israel launch an air war on Iran (and, per reporting, kill Supreme Leader Khamenei). Within hours the IRGC warns vessels by VHF radio that no ships may pass; ship-tracking shows a roughly 70% drop in traffic as the crisis begins.
Editorially maintained and independently verified against the cited sources. Source links are to outlet and date; the claim stands even if a link later expires. This is analysis, not financial advice. For live chokepoint transit data see the Chokepoint Transit Monitor.