Factor Ceasefire (Apr 7–12) Blockade (Apr 13+) Hormuz traffic IRGC coordination required; minimal transits IRGC + US Navy both active in lanes Iranian ports Open in principle; tankers cautious Formally blockaded effective 10 AM ET Non-Iranian Gulf ports Open; risk-assessed by operators Formally exempt from blockade WTI crude $94.41 (post-ceasefire crash) $104.38 (+8.1% overnight) Market […]