September shipments reached 1.6 million tonnes — their highest since the conflict began, but still below a quarter of pre-war levels. The Strait of Hormuz remains severely restricted, and analysts say recovery would take well over half a year even if the fighting stopped today.
An agreement is close to completion, with the first convoy expected in Syria by mid-October. The two countries are also reviving a pipeline that would give Iraq a more permanent route to the Mediterranean.
Commercial crossings through the strait have fallen to about 6 vessels a day, against a pre-war average of 84. The September exchange — 5 US strikes on Iranian tankers, 10 Iranian attacks near the strait — was the largest declared action against shipping since the war began, and has pushed Brent crude above $100 a barrel.
Washington says its military's main goal is to stop Iran exporting energy, as part of a wider push to strangle its economy. An Iranian official says the Strait of Hormuz could reopen within seven days if the US eases pressure and lifts its blockade on Iranian ports.
Bahrain led the joint appeal at the UN General Assembly, condemning attacks attributed to Iran that have killed two people and pushed Brent crude above $105 a barrel. The US Navy says it has escorted more than a billion barrels of oil through the strait since the war began.
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