Hormuz Strait: Inside the Fragile U.S.-Iran Ceasefire of 2026

The Strait of Hormuz is a critical artery for global energy supply, and the U.S.-Iran ceasefire agreement carries significant tension and risk. This agreement could have a major impact on the global energy market, particularly for major Asian economies that heavily rely on the Strait of Hormuz for stability. Historical precedents suggest that a potential disruption could lead to a surge in global oil prices and energy costs.