Ceasefire Already Cracking — Iran Shuts Strait of Hormuz Again

Less than 24 hours after the US-Iran ceasefire was announced, Iran has closed the Strait of Hormuz again, with state-run Fars News reporting that tanker traffic will come to a complete stop. (Scripps News) Iran cited Israeli violations of the ceasefire, specifically ongoing attacks in Lebanon, as the reason for reversing course. Only two ships were allowed to pass before Iran shut the waterway again. (Scripps News) About one-fifth of the world's oil production passes through the Strait of Hormuz, (Scripps News) making this closure a direct threat to global energy markets. Oil prices, which had dropped sharply after the ceasefire announcement, now face renewed pressure. (NBC News) The fragile two-week truce is already under serious strain.$BTC $ETH

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