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🗞️ Driving the news: Brent crude rose above $84 a barrel — up 16% since the US-Israel-Iran war began — as Tehran continues demanding sanctions relief and reparations before fully reopening the Strait of Hormuz.

🔭 The context: Strait traffic is running at just 8-15 vessels a day, down from around 130 before the conflict, keeping oil markets on edge over supply security.

🌍 Why it matters for the planet: Sustained disruption to oil trade routes embeds a lasting risk premium in fossil fuel prices, complicating energy security planning and potentially slowing diversification toward cleaner supply as governments prioritise short-term price stability.

⏭️ What's next: Traders are watching for a diplomatic breakthrough on sanctions relief; until then, the risk premium is expected to persist.

💬 One quote: "The lack of concrete movement keeps a risk premium in the price. Each day without breakthrough makes traders more cautious." — Tim Waterer, KCM Trade analyst

📈 One stat: 64 violent incidents and 17 deaths involving commercial vessels in the strait since late February 2026.