Global energy markets are on edge after Iran shut down the Strait of Hormuz on 18 April, completely reversing its short-lived decision to open the major shipping route. The sudden blockade forced President Donald Trump to call an emergency Situation Room meeting as the ceasefire approaches its expiration and diplomatic efforts mediated by Pakistan near a critical deadline.
The closure marks a sharp deterioration in regional stability as the ceasefire approaches its expiration. With Iranian forces reportedly opening fire on passing commercial vessels, diplomatic efforts mediated by Pakistan are nearing a critical deadline.
