The Strait of Hormuz has become a focal point of the US-Israel war with Iran after Tehran effectively choked off one of the world's most important shipping lanes, carrying about a fifth of the world's oil and liquefied natural gas.
A two-week ceasefire was agreed on Tuesday evening on the condition that safe passage through the strait is guaranteed - but BBC Verify analysis shows only a few vessels have since crossed.
The disruption, over the past five weeks, has sent shock waves across the world economy, pushing up energy prices and exposing just how reliant international supply chains are on the strait, which is only about 33km (21 miles) wide at its narrowest point.
As well as energy, the Gulf is also vital for transporting chemicals needed to process products like microchips, pharmaceuticals and fertiliser.
While the price of oil has fallen on news of the ceasefire, shipping analysts are warning to expect only a trickle of crossings for now.
Most shipping lines would want to get details and reassurances on what it actually takes to transit and those details are not available, Lars Jensen from Vespucci Maritime told the BBC.
Since the ceasefire came into force, shipping brokerage firm SSY has confirmed to BBC Verify that ships in the Gulf have received a warning from Iran's navy that any vessels seeking to cross without permission will be targeted and destroyed.
By 14:00 BST on 8 April just three tankers - NJ Earth, Daytona Beach and Hai Long 1 - had passed through the strait since the ceasefire was announced late on Tuesday night. That compares to 138 ships that passed through the strait each day, on average, before the conflict started on 28 February.
Shipping broker Richard Meade mentioned that stranded tankers fully loaded with cargo would likely be prioritized if crossings do resume, as nearly 800 ships have been stuck for several weeks.
However, uncertainty looms over the duration of the ceasefire and the possible toll payments to Iran, which might complicate shipping operations further given the potential violation of US sanctions.
Despite the lack of crossings so far, markets responded positively with benchmark Brent crude falling by about 13% to $94.80 a barrel. However, experts urge caution, highlighting that resuming regular shipping activity through the strait will take time.
