The Strait of Hormuz, a critical waterway, has experienced a period of relatively smooth reopening, but its stability remains a concern. Eight ships, including oil tankers, recently reversed course near the chokepoint, with some later rerouting closer to the Iranian coast. This maneuver aligns with Iran's request for vessels to use designated Iranian lanes. The reason for the abrupt course changes is unclear, but Iran has issued warnings via VHF radio for ships to adhere to these routes.Iran has also publicly warned Western powers against using the strait for military displays, asserting its role as the security guarantor. This warning comes as the UK and France announced their navies are ready to support freedom of navigation operations. Iran's Deputy Foreign Minister emphasized that the security of Hormuz lies with coastal states and cautioned against consequences for any adventurism. Despite these warnings, daily commodity ship crossings have averaged around 34, though traffic remains below pre-war levels.However, there is now a significant effort to move stranded cargoes out of the Strait. Persian Gulf crude exports and rerouted volumes have largely recovered to near pre-war levels. The backlog is rapidly diminishing, with floating storage significantly reduced and onshore tanks awaiting export. Inbound tankers are also amassing, preparing to load previously stored oil as Gulf production gradually returns to normal. A growing queue of ballast VLCCs heading towards the Gulf signifies a reconnecting logistical chain and the potential for uninterrupted loadings as the system normalizes.