This marks a major de-escalation in the Gulf region, as early signs point to the beginning of normalization of energy flows through the critical waterway by tankers.

"Today, U.S. forces lifted the blockade on all maritime traffic entering and exiting Iranian ports and coastal areas, in accordance with the President's direction," CENTCOM said. 

CENTCOM continued, "American forces are not impeding the transit of vessels to or from Iranian ports on the Arabian Gulf and Gulf of Oman. All U.S. military blockade enforcement efforts have ceased. Our great Naval Ships will remain in the general area to make sure that all aspects of the agreement are adhered to, obeyed and in full force and effect."

Hormuz flows are still muted.

Searching For Hormuz Normalization Signals 

Attention on institutional desks is shifting toward normalization signals at the Strait of Hormuz maritime chokepoint.