Strait of Hormuz remains blocked

The effective closure of the critical oil and gas corridor has sent global energy prices soaring, with spot crude in the North Sea trading above $135 per barrel.

Iran has suggested imposing a 'toll' system for transit, a proposal the White House has flatly rejected as an illegal blockade.

A UK-led coalition of over 40 nations is currently coordinating plans to secure the lane and restore maritime traffic.

Analysts warn that the continued disruption is inflicting long-term damage on global supply chains and manufacturing sectors.