Strait of Hormuz remains basically closed as Iran seizes ships after Trump ceasefire extension

the strait of hormuz remained basically closed on wednesday, despite trump extending a ceasefire with iran. ship traffic was very light, with only about six vessels transiting — including three oil tankers. that's far below the pre-war normal of more than 100 ships daily. iran's revolutionary guard seized two container ships for crossing "without authorization." a cargo ship was fired upon wednesday and is stopped in the water. this follows a gunboat attack tuesday that heavily damaged a container ship's bridge, and a weekend of confrontations involving indian vessels and a u.s. navy boarding. about 20% of the world's crude used to pass through the strait. rystad energy estimates it will take until july for oil flows to reach 90% of pre-war levels, with barrels taking another two months to reach global refineries.