Strait of Hormuz Blockade Persists

The blockade has triggered a global energy crisis, with jet fuel and gasoline prices reaching record highs in several regions.

U.S. forces have stepped up interdictions, recently boarding the sanctioned tanker M/T Tifani to disrupt Iran's illicit oil exports.

Traders warn that even if the strait reopens soon, the 'billion-barrel hole' in the market will take months to resolve.

European and Asian nations are scrambling to find alternative oil supply routes as strategic reserves begin to dwindle.