Qatar Signals Progress in US-Iran War Talks
Qatar's foreign ministry said mediators including Qatar, Pakistan, and Oman have reached "very progressive stages" in efforts to end the US-Iran war, pushing Brent crude down more than four percent.
Global Affairs
Iran Shuts Hormuz Again as US Blockade Holds
Key Takeaways
- 1.Oil and LNG prices could spike if Hormuz closure persists
- 2.Global shipping costs may rise on rerouting risk
- 3.US-Iran ceasefire may expire Wednesday with no deal in place
April 18, 2026 · 2 min read · By Rishabh Bhardwaj
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AI-assisted, human-reviewed · Our editorial standards
Iran's military reimposed control over the Strait of Hormuz on Saturday, declaring the waterway under 'strict management' of its armed forces hours after reopening it following a Lebanon ceasefire agreement. The reversal came with more than a dozen commercial ships mid-transit, several of which turned back after the announcement while others hugged Iranian territorial waters and broadcast Indian or Chinese identities in apparent bids for safe passage. The rapid oscillation undermined Trump's Friday claim that a peace deal ending the US-Israeli war on Iran was 'very close.' Tehran's trigger was explicit: the US naval blockade of Iranian ports, which Washington launched alongside the February 28 military campaign, remained active despite the ceasefire. Parliamentary speaker Mohammad Bagher Ghalibaf and foreign ministry spokesman Esmaeil Baqaei both warned the blockade constituted a ceasefire violation. Trump, speaking aboard Air Force One, confirmed the blockade would remain regardless of whether the ceasefire extends past Wednesday, and threatened resumed airstrikes if no long-term deal is concluded. Core gaps persist: Iran refuses to transfer its enriched uranium stockpile to the US, contradicting Trump's stated terms, and Tehran's proposed tolls on Hormuz shipping are off the table per Washington. The strait normally carries roughly a fifth of global oil and LNG supply, making its status a direct variable in energy markets.
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