Strait of Hormuz Shipping Crisis

The strategic waterway remains a primary flashpoint, with Iran refusing to fully reopen it to all maritime traffic until a final peace deal is signed.

The U.S. Navy has conducted mine clearance operations in the area, which President Trump described as a 'favor' to other nations.

Global oil traders are racing to secure barrels as the supply crunch drives physical prices to unprecedented levels.

The International Maritime Organization has warned that any attempt by Iran to charge tolls in the strait should be rejected by the international community.