Iran Loses Control of Strait of Hormuz as Oil Exports Rise

Iran has lost control of the Strait of Hormuz, leading to a rise in oil exports to 80 percent of pre-war levels. Oil supplies through the strait are increasing, and talks with Iran have reduced the oil price rally. Iran's airspace remains safe for all foreign and international flights, according to the CEO of IAC. The standoff had earlier threatened Middle East energy infrastructure.