00:00Despite a two-week U.S.-Iran ceasefire, the Strait of Hermuz remains effectively closed
00:05as Iran continues to restrict and condition ship passage, requiring vessels to obtain its
00:10permission to transit. Ship traffic has not recovered from the war that began February 28th,
00:16with some 230 loaded tankers stranded in the Gulf, representing the largest oil supply
00:22disruption in history, given that the strait normally carries roughly 20 percent of global
00:28oil supplies. Al-Jabair warned that as the last pre-war oil cargoes reach their destinations,
00:34oil markets will soon confront the physical reality of the supply shortage, with compounding
00:39consequences for energy prices, industries and households worldwide until full and unrestricted
00:46passage is restored.
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