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With oil hovering near $100, discussions on shipping through the Strait of Hormuz are set to potentially influence market dynamics. Find out more.

Explore how companies can prepare for fluctuating energy prices due to geopolitical tensions, especially around the Hormuz Strait.

Iran’s top security body announced on Monday the formation of a new body to manage the Strait of Hormuz, which Tehran has effectively closed and wants to charge ships to traverse. On its official X account, the Supreme National Security Council shared a post for the Persian Gulf Strait Authority (PGSA) saying it would provide “real-time updates on the #Hormuz_Strait operations and latest developments”. The account of the Revolutionary Guards’ navy shared the same post. > It was not immediately clear what the new body would do but earlier this month Iranian English-speaking broadcaster _Press TV_ said it constituted a “system to exercise sovereignty over the Strait of Hormuz” and that ships passing through the strait were sent “regulations” from the email info@pgsa.ir. Iran has largely blocked shipping through the vital strait since the outbreak of war with the United States and Israel on February 28. A fragile ceasefire has been in place since April 8. Iran’s grip over the waterway has rattled global markets and given Tehran significant leverage, while the US has imposed its own naval blockade on Iranian ports. In peacetime, the route accounts for roughly a fifth of global oil and liquefied natural gas (LNG) shipments, along with other key commodities including fertiliser. Since the war began, Iran has repeatedly said that maritime traffic through the strait would “not return to its pre-war status”, and last month it said it had received the first revenue from tolls on the waterway. On Saturday, Ebrahim Azizi, head of the Iranian parliament’s national security commission, said Iran “has prepared a professional mechanism to manage traffic” through the strait, adding that it will be “unveiled soon”. >

Trump says final aspects of an Iran deal are being completed, but disputes over Tehran’s nuclear programme and Strait of Hormuz remain.

In the Name of God The official X account of the Persian Gulf Strait Authority (#PGSA) is now live. Follow us for real‑time updates on the #Hormuz_Strait operations and latest developments.

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