US-Iran ceasefire negotiations underway; Strait of Hormuz traffic collapsed to 10 ships/day, Brent crude holding near $90/barrel.
Macro & Markets ·
Mediators are working to facilitate a ceasefire between the US and Iran as regional tensions disrupt shipping routes. Traffic through the Strait of Hormuz has fallen to 10 ships per day, with Qatar proposing a 10-day ceasefire and lifting of shipping restrictions as a potential de-escalation measure. Mediators are concerned that without a resolution, the conflict could remain below full-scale war while continuing to damage regional economies. Brent crude oil is trading near $90 per barrel.