
Market update
09 Apr, 2026
Despite a temporary ceasefire, the Hormuz Straits remain de facto closed for transit
A two-week ceasefire announcement was announced on 8 April by the US, Israel and Iran, with the re-opening of the Hormuz Strait being a key component of the ceasefire agreement. The first 24 hours of the ceasefire have shown that the ceasefire itself is very fragile, and not least that there are conflicting views on key aspects of the agreement, not least in terms of whether a ceasefire in Lebanon was part of the scope or not.







