I believe this might be true. A lot of the traffic has been re-directed through other means, though. So yeah, oil is getting through, just not through the strait of Hormuz. The discrepancy in price lies in the fact that there are still major time disruptions, countries are draining their strategic reserves (and need to refill them), and also the insane premiums on shipping insurance & shipping itself.

This doesn’t really mean that Iran’s grip is loosening. There really is no way to bypass the strait easily for the time being. Also FWIW, i haven’t seen anyone besides kpler actually confirm that flow rates have rebounded past pre-war levels. Seems like a big game of telephone.