Energy Policy Research Institute

The potential collapse of a US-Iran ceasefire has caused oil prices to rise to their highest level in weeks, raising concerns about renewed fuel price increases. Tanker traffic through the Strait of Hormuz has stalled, and the US Strategic Petroleum Reserve is at its lowest level since 1983, amplifying market anxieties.

The potential collapse of a US-Iran ceasefire has increased anxiety over rising fuel prices as oil prices hit a multi-week high following attacks on commercial ships and military sites. Tanker traffic through the Strait of Hormuz has halted, amplifying geopolitical risk, while gasoline prices edged higher amid concerns over disrupted oil flows.