U.S.-Iran Strait of Hormuz Impasse; Brent Crude Holds $100 Level

President Trump rejected Iran's proposal to reopen the Strait of Hormuz, extending the blockade to its 65th day as of May 1. Brent crude reached $114.66 per barrel on April 30, up from $106.73 on April 27. The closure affects approximately 20% of global maritime oil trade—some 20 million barrels daily. The U.S. Navy announced activation of escort operations 'Project Freedom' for May 4.