From a transport and logistics perspective, one point of Iran’s 10-point permanent peace proposal stuck out: the Hormuz Strait and conditions for future safe passage. Iran's share would reportedly fund the rebuilding of infrastructure damaged during the conflict, rather than seeking direct compensation for war losses. Oil prices remain elevated despite a burst of ceasefire reliefFollowing the two-week ceasefire announcement, oil prices dropped more than 15% to below 95 USD a barrel on 8 April, marking one of the largest drops ever seen, but still well above 67 USD, which is the level before the war. The now 41-day gap in global oil supply worldwide means it will take considerable time before global oil supply levels are back to normal, with the expectation that we are talking months and not weeks. Hormuz Strait remains de facto closedWhile a few smaller bunker and bulk vessels have passed through the Hormuz Strait following the ceasefire announcement, the reality is that the strait is still de facto closed.

Source: CNN April 09, 2026 11:55 UTC