Brent $111.49; Hormuz Transit at 8 Vessels

When Iran proposed swapping Hormuz blockade relief for nuclear talks delay, Trump rejected the offer, sustaining upward oil momentum. On Sunday, April 28, only 8 vessels transited—just 6% of the pre-war daily average of 129. The World Bank projects 2026 energy prices will spike 24%, marking the highest level since the 2022 Ukraine war.