U.S.-Iran Ceasefire Extended Indefinitely; Hormuz Strait Blockade Continues

President Trump extended the U.S.-Iran ceasefire effective April 8 indefinitely as of April 27. Iran maintains its position that the U.S. must end its blockade and cease military action before reopening the Strait of Hormuz. Brent crude slipped 32 cents to $106.73 but remains about $40 higher than a year ago.