Strait of Hormuz remained the most focal point during Iran war, which began on February 28 with U.S. and Israeli air attacks on Iran, has killed at least 7,000 people, mostly in Iran and Lebanon. It also pushed up energy prices, stoking inflation worldwide. Brent crude ticked higher on Friday, but stayed set for a weekly fall of around 8 per cent after the Lebanon ceasefire, and oil shipments through the Strait of Hormuz picked up after the signing of this week's deal.
The strait carried nearly a fifth of global crude oil and liquefied natural gas supplies before it was blockaded by Iran during the war. The body set up by Iran to manage the strait said on Friday it would waive planned fees during the interim deal's negotiation period.
