Tankers began moving through the Strait of Hormuz again on Monday after nine days of disruption. Oil prices fell sharply on the news and shipping insurers cut their war-risk premiums within hours.

What happened

Economists say the short closure still added weeks of delay to supply chains already stretched by the season.

Why it matters

Diplomats warn the calm is fragile and depends on talks that have only just begun.

Key facts

• Tankers began moving through the Strait of Hormuz again on Monday after nine days of disruption.

• Economists say the short closure still added weeks of delay to supply chains already stretched by the season.