U.S.-Iran Ceasefire Collapses; Oil Chokepoint at Risk

The April ceasefire between the U.S. and Iran fell apart by early June, with both sides trading military strikes near the Strait of Hormuz. A quarter of global oil—20 million barrels daily—flows through there. Even minor disruption from mines, missiles, or spooked insurers would slow Asian and European deliveries, pushing fuel prices sharply higher within weeks.