""The strait remains closed for now," said Matt Reed, vice president of geopolitical and energy consultancy Foreign Reports. "The Iranians made clear that nothing has really changed yet. They still want ships to follow their orders. That means being rerouted. It means maybe paying tolls.""
""If there is a breakthrough to be had, it might not be for a few more days," Reed said. "We are clearly inching in the right direction, but there's still a long way to go. The problem for oil markets is that every day the strait remains shut the market is starved. And it is still closed for now.""
""Although Trump declared the strait 'completely open and ready for business and full passage,' he emphasized that the naval blockade on Iran's exports will remain 'in full force and effect' until a peace deal is '100% complete.'""
On April 17, both Iran and the White House declared the Strait of Hormuz open, leading to a drop in crude oil prices. However, Iran continues to assert control, indicating that ships must comply with their orders. Analysts suggest that while negotiations are progressing, the strait remains effectively closed, impacting oil markets significantly. President Trump confirmed that the U.S. blockade on Iranian ports will remain until a complete peace deal is reached, emphasizing ongoing tensions despite optimistic statements.
Read at Fortune
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