Dozens of oil tankers have resumed transit through the Strait of Hormuz after a landmark diplomatic deal brokered by British and American officials eased a week-long standoff that threatened to spike global fuel prices. The development offers temporary relief for households already battered by cost of living pressures, but union leaders warn that the underlying vulnerability of supply chains remains.
At least 40 tankers were reported moving through the narrow waterway on Tuesday morning, according to maritime tracking data. The logjam began when Iran impounded two commercial vessels last Wednesday, triggering tit-for-tat measures that saw the Royal Navy deploy a destroyer to the region. The crisis had raised fears of a repeat of the 2019 attacks on tankers, which sent fuel prices soaring.
Downing Street said the breakthrough came after “intensive, behind-the-scenes discussions” with Iranian counterparts, facilitated by Oman. A joint Anglo-American statement confirmed that assurances over maritime security and the release of detained crews had been exchanged. The details remain sparse, but the immediate effect is a resumption of normal traffic through the chokepoint that carries about a fifth of the world’s oil.
For working families in the North of England, the spectre of another petrol price spike was all too familiar. At a bus stop in Manchester, care worker Janet Morrison told me she had been watching the news with dread. “I remember last time, when petrol went over £1.50 a litre. It’s not just the car. Everything in the shops goes up because of transport costs. My wage doesn’t budge.”
Unite the Union’s national secretary for energy, Steve Turner, said the deal was a “sticking plaster” that failed to address the root causes of instability. “What this shows is that every time there’s a geopolitical ripple, working people pay the price at the pump and on the weekly shop. We need a long-term energy strategy that insulates our economy from these shocks, not just a diplomatic fix that lasts until the next standoff.”
The price of Brent crude dipped by 2% on the news, but remained above $90 a barrel. Analysts caution that the underlying tensions with Iran have not been resolved. The Strait of Hormuz remains a strategic vulnerability, and the cost of any disruption is ultimately borne by consumers.
Regional inequality also plays a part. While London commuters have the option of the Tube, towns like Burnley and Sunderland rely heavily on car travel. A prolonged closure would have hit them hardest. “We’re always the ones left stranded when the global economy sneezes,” said Sarah Jones, a shop steward at a warehouse in Leeds. “The City types can work from home. We can’t.”
As the tankers resume their journey, the government has promised a review of maritime security. But for families counting pennies, the memory of near-empty pumps is not easily erased. The real test is whether this diplomatic success translates into stable prices, or whether it is merely a pause before the next crisis.
