U.S.-Iran ceasefire holding after clashes in Strait of Hormuz

A ceasefire between the U.S. and Iran is holding after clashes in the Strait of Hormuz. The U.S. Secretary of Defense stated that the ceasefire ‘certainly holds’ for now. ‘Project Freedom,’ an effort to guide commercial ships through the strait, is considered a separate and ‘temporary’ operation. This has led to concerns regarding the energy market.