Trump Extends Iran Ceasefire 5 Days as Brent Tops $100 on Hormuz Blockade

President Trump extended the Iran ceasefire by five days on April 27, 2026, delaying strikes on Iranian energy infrastructure as Pakistan-mediated indirect talks continue. The U.S. naval blockade of the Strait of Hormuz, active since March 4, disrupts 20 million barrels per day or 27% of global maritime oil trade, pushing Brent crude above $100/barrel for the first time since 2022 with a record 64% monthly gain. The International Energy Agency labels it the largest oil market disruption ever.