Keyword → Houthi blockade

Brent Crude Falls 1.4% to $88.01 as Mediators Propose 10-Day US-Iran Ceasefire — Houthi Saudi Blockade Threat Caps Downside

Brent crude fell 1.4% to $88.01 and WTI dropped 1.1% to $82.29 after a senior Iranian official confirmed Tehran received a mediator proposal for a 10-day ceasefire to salvage the June 17 peace memorandum. Gains were capped by Houthi threats to impose a naval blockade on Saudi Arabia, opening a potential new front against global energy flows. Vessel crossings through the Strait of Hormuz have fallen further, keeping tanker risk premiums elevated despite the ceasefire signal.