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Fortune
Fortune
Jason Ma

Shipping companies will decide when the Strait of Hormuz is truly open—not the U.S. or Iran—and the latest deal is already sowing confusion

(Credit: U.S. Navy)

Just days after the U.S. and Iran signed a memorandum of understanding to reopen the Strait of Hormuz, Tehran announced the critical waterway is closed again, threatening oil flows after they had barely started to rebound.

On Saturday, Iran’s military command said it closed the strait, citing continued Israeli attacks on Lebanon and U.S. “bad faith” in failing to uphold commitments to end the war. It also warned that “if the aggression continues, subsequent steps have been planned.”

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