Strait of Hormuz remains paralyzed

The global energy market remains in a state of high anxiety as the Strait of Hormuz, a critical chokepoint for one-fifth of the world's oil, remains effectively closed.

Thousands of vessels are reportedly backed up in the Persian Gulf as Iran maintains a strict limit on ship movements, citing security concerns and the presence of naval mines.

The U.S. administration has warned that the ceasefire is contingent on the 'complete and immediate' reopening of the strait.

Analysts suggest that Tehran is using its control over the waterway as leverage ahead of high-level peace talks in Pakistan.