Strait of Hormuz: U.S.-Iran Exchange Strikes, Ceasefire Fractures, JMIC Threat Level Raised, Oil Falls Below Pre-War Close

The fragile reopening of the Strait of Hormuz suffered a severe blow: the U.S. and Iran exchanged direct military strikes for the first time since the ceasefire extension, the Joint Maritime Information Center raised the threat level from "medium" to "elevated," the IMO suspended its evacuation plan, and Brent crude fell below $72/bbl — a level not seen since before the war — as supply-reopening fundamentals overwhelmed the renewed geopolitical risk premium.

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