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Hormuz Blockade Cuts Traffic, Oil Rises; Trump Cancels Pakistan Trip

4/27/2026

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Iran Blockade
  • Iran’s blockade of the Strait of Hormuz reduced daily commercial transits from roughly 129 to just 19, spiking energy costs.
  • U.S. President Donald Trump cancelled the planned envoy trip to Islamabad, citing the risk of an Iranian call.
  • Brent crude climbed over 2 percent to $106.99, reflecting higher global oil prices amid stalled talks.
  • Pakistan officials said cease-fire contacts remain fragile but alive, viewing Minister Abbas Araghchi’s return hopeful.
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