Iran says it is selling oil at 20% premium as end of U.S. blockade sees 40 million barrels exported

Following the U.S.-Iran ceasefire signed on June 17, 2026, the naval blockade of Iranian ports has been lifted, reopening the Strait of Hormuz and triggering a surge in crude oil shipments through the waterway, with over 40–50 million barrels exported since. Iran has agreed to allow toll-free transit through the Strait for 60 days, though future governance of the strategic chokepoint remains uncertain after that window expires.