The U.S. and Iran have reached an agreement for a bilateral ceasefire. Consequently, maritime traffic movements through the Strait of Hormuz have commenced. Data has shown a low number of movements in these initial hours. But why is this strait so important? The Strait of Hormuz is a key trade artery through which approximately 20 percent of the world's oil passes. Around 3,000 vessels typically navigate through this strait each month. However, this figure had significantly decreased recently. The Strait of Hormuz is a vital lifeline for imports into the Middle East, including food, medicine, and technological supplies.