Trump extends Iran ceasefire; Straits of Hormuz reclosed within 24 hours

President Trump announced on April 21 that he would extend Iran's ceasefire through the end of negotiations at Pakistan's request, while maintaining the maritime blockade. According to the IMO, 2,000 vessels and 20,000 sailors became stranded in the Persian Gulf on the same day, and the Pentagon reported to the House Armed Services Committee that mine clearance in the Straits would require six months. Brent crude rose 6 cents to $96.32, up $29.70 from a year ago.