(TJV NEWS) The strategically critical Strait of Hormuz remains effectively choked off despite a fragile cease-fire, with oil tankers stranded and global markets rattled, according to reporting from CNBC and additional details from TASS.

Shipping traffic through the narrow waterway — which typically handles roughly a fifth of the world’s oil supply — has yet to meaningfully recover, CNBC reported, as uncertainty, security risks, and Iranian control continue to deter major shipping firms. Even after a temporary truce between the U.S. and Iran, vessel movement remains extremely limited, with companies wary of unclear transit rules and the threat of further escalation.

The situation has left hundreds of ships stuck on either side of the strait, including oil tankers waiting near the United Arab Emirates. Energy companies and maritime operators are reluctant to resume normal operations without firm guarantees of safe passage, CNBC noted, underscoring how fragile the cease-fire remains.

Compounding the crisis, Iran has imposed strict controls over who can pass through the corridor. According to TASS, Tehran is limiting traffic to a small number of vessels per day — in some cases as few as 15 — effectively turning one of the world’s most important shipping lanes into a bottleneck.

Rather than a full reopening, the strait is being tightly managed by Iranian forces, with ships required to coordinate passage and in some cases follow specific routes under military oversight. Analysts say this has transformed the waterway into a heavily regulated chokepoint rather than a free-flowing trade route.

The consequences are already rippling across global energy markets. Oil prices have surged back toward $100 per barrel, while supply chains remain strained due to delayed shipments and soaring insurance costs.

Officials in the Gulf have also warned that the situation is far from resolved. The head of Abu Dhabi’s national oil company bluntly stated that the strait is “not open,” emphasizing that access is still “restricted, conditioned and controlled” by Iran despite diplomatic efforts.

Before the conflict, more than 100 ships passed through Hormuz daily. Now, only a fraction of that traffic is moving, with many major operators staying away entirely due to legal uncertainty, potential tolls, and ongoing military risks.

The standoff highlights Iran’s growing leverage over a critical artery of global trade, with Tehran effectively dictating terms in a region that underpins much of the world’s energy supply. As CNBC reported, until shipping companies regain confidence in safe and predictable passage, the disruption could drag on for weeks — or longer.

With tensions still simmering and the cease-fire showing signs of strain, the fate of the Strait of Hormuz remains one of the most consequential flashpoints in the global economy today.