Strait of Hormuz remains blocked

Global energy markets are reacting with skepticism as the Strait of Hormuz remains effectively closed to major commercial traffic despite the U.S.-Iran truce.

Iranian state media has published charts indicating the presence of sea mines, while Tehran proposes a 'Tehran Tollbooth' system to fund infrastructure repairs.

Major shipping firms and oil majors are currently avoiding the route, waiting for verified safety assurances that have yet to materialize.

This continued disruption is keeping Brent crude prices elevated near $97 a barrel, complicating efforts to ease global inflationary pressures.