Iran Signals Strait of Hormuz Deal Close, But Ceasefire Dispute Lingers The tensions between Iran and the US in the Strait of Hormuz have been a long standing concern for global energy markets.
The strait is the world's most critical oil shipping route, with over 20% of global crude exports passing through it every day.
In recent months, the situation has become increasingly volatile, with both sides engaged in diplomatic efforts and military posturing.