Ceasefire Fails to Open Hormuz as Oil Markets Remain Tight Near $100

Even after the U.S.-Iran ceasefire, the Strait of Hormuz remains largely closed and traffic is tightly controlled by Iran’s IRGC, keeping the global oil chokepoint constrained and prices near $100 a barrel. Analysts warn that without a sustained reopening, the energy shock could deepen and slow global growth, with Brent likely to average above $100 this year as shippers tread carefully and recovery could take months.