Strait of Hormuz Crisis: Brent Tops $100, Trump Delays Iran Strikes by 5 Days

Iran closed the Strait of Hormuz on March 4, blocking 20 million barrels per day or 27% of global seaborne oil trade. Brent closed above $100 per barrel on March 12, posting a record 64% monthly gain in March per LSEG data. President Trump postponed strikes on Iranian energy infrastructure by five days pending diplomatic talks.