UPDATE: THE SITUATION IN HORMUZ HAS ESCALATED TO A NEW LEVEL:

In the past 12 hours, everything has changed.
– Iran OPENED the Strait of Hormuz this morning according to a ceasefire agreement — two oil tankers passed safely
– Israel carried out more than 100 attacks on Lebanon a FEW HOURS later — the largest attack since the war began — 112 people killed in an assault
– Iran CLOSED the Strait of Hormuz again — all oil shipping activities by tankers have been halted
– Iran is "considering withdrawing completely from the ceasefire agreement" — Al Jazeera confirms
– Iran's armed forces are now TARGETING objectives inside Israel — Shafaq News
– Oil prices dropped 19% this morning following the ceasefire news — the biggest decline since 2020 — now instability has RETURNED
– Pete Hegseth said "Iran begged for a ceasefire" — Iran is now preparing to WITHDRAW from the agreement
– Over 150 ships were stranded at the peak of the previous blockade — traffic flow dropped sharply from 150 ships/day to under 20 ships
– Gas prices in California are $6/gallon. The Philippines is implementing a 4-day workweek. Japan is releasing emergency reserves.
The ceasefire lasted only 12 hours. The shipping lane, which accounts for 20% of the world's oil, has been closed again. No signs of reopening yet.
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