President Donald Trump claimed Monday that ships are beginning to freely transit the Strait of Hormuz after he virtually signed a framework agreement to put an end to the protracted conflict in Iran.

Average auction prices to pass the canal have nearly tripled as carriers hedge against the Iran war, with one company paying $4 million to cross the canal.

A company exec told customers “nothing has dramatically changed” at the strait this week as ocean carriers remain in wait-and-see mode.