Overview
- Iran has kept most commercial traffic out of the Strait of Hormuz while allowing dozens of ships through under Revolutionary Guard supervision, with state TV claiming about 30 transits since midweek.
- Tehran is asserting de facto authority over the waterway by drafting passage protocols and planned service fees, and an influential lawmaker warned states backing a U.S.-led UN move that the strait could be closed "for ever."
- Iranian state television said European countries have opened talks with the Guard navy over passage terms, though the outlets did not name which governments are involved.
- The U.S. escort initiative known as Project Freedom has been put on hold as exchanges of fire continue despite a fragile ceasefire, leaving most shipping to seek longer routes.
- The crisis is straining energy flows as IEA data show global oil stocks fell by 129 million barrels in March and 117 million in April, while the Panama Canal reports tanker transits nearly doubling to almost 14 a day and revenue up 10–15% as cargoes reroute.