Strait of Hormuz Reopening Delayed

Only a few oil tankers have managed to transit the strait since the ceasefire was announced, as shipping companies and insurers remain wary of the security situation.

Iran is reportedly considering the implementation of a cryptocurrency toll for all vessels passing through the waterway.

This proposed 'joint venture' for tolls has been floated by President Trump but faces significant legal and diplomatic hurdles.

The continued blockage of the strait is keeping global energy prices elevated despite the pause in major combat.