US-Iran Deal Sets Stage for Middle East Oil Export Rise

The interim agreement between the United States and Iran creates conditions for a recovery in Middle Eastern oil shipments, noting that Iranian crude can return to full flow only after the current US blockade is removed.

Even before the blockade is lifted, traffic through the Strait of Hormuz has begun to climb sharply, with observable increases recorded in the first days of June.

This uptick has pushed overall regional oil output from a May trough of 9.6 million barrels per day to roughly 12 million barrels per day.