Energy — Tensions Flare Between U.S. and Iran Ahead of Ceasefire Deadline

Energy · 2026-04-21

The energy world is converging on a single date: April 22, when the U.S.-Iran ceasefire expires and the Strait of Hormuz crisis enters its next phase. Brent crude jumped over 6% to above $96 on Monday after Iran re-closed the Strait over the weekend, and Tehran explicitly warned it will not guarantee safe passage while the U.S. restricts its oil exports. Kuwait has already declared force majeure…