Strait of Hormuz not open, Abu Dhabi’s oil chief says as crude prices rise
Why it matters: Brent crude climbs to $99‑$100 per barrel, raising fuel costs for airlines and refineries worldwide.
- Abu Dhabi Oil Chief says the Hormuz Strait is “not open” despite the US‑Iran cease‑fire (source: news story).
- European leaders call for a cease‑fire that includes Lebanon and demand the strait be reopened (Globe and Mail).
- Iran limits traffic to no more than 15 ships per day and hints at a new management phase for the strait (India Today).
- British government rejects proposals for tolls on Hormuz, signaling resistance to new revenue schemes (Politico.eu).
- BBC reports vessels remain cautious when approaching the strait, reflecting lingering security concerns.
Abu Dhabi’s oil chief warned the Strait of Hormuz remains effectively shut despite a US‑Iran cease‑fire, pushing Brent crude toward $100 a barrel. Europe and the UK are urging a broader cease‑fire and rejecting tolls, while Iran caps traffic at 15 ships a day and signals a new management phase.
