The Hormuz Ceasefire That Isn't: Why Oil Markets Remain Hostage to Unresolved Supply Shocks

President Trump declared the US-Iran conflict 'terminated' but US ships continue to blockade Iranian oil exports, exacerbating tensions at the Strait of Hormuz. Global energy supply chains remain severely constrained due to the bottleneck, transitioning the crisis from a price shock to a physical shortage. Central banks face stagflation risk and potential rate hikes.