April Ceasefire Collapsed; Hormuz Oil Transit Now at Risk

The U.S.-Iran ceasefire agreed April 8, 2026 unraveled within weeks. By June 6, both sides exchanged military strikes near the Strait of Hormuz, where 20 million barrels of oil daily transit—roughly 25% of global seaborne petroleum. Even partial disruption—via mines, missiles, or spooked insurers—would add weeks to Asian and European energy deliveries, spiking delivered prices within six weeks. Lloyd's war-risk classifications and tanker rerouting costs could accelerate that impact materially.