Strait of Hormuz not open, Abu Dhabi’s oil chief says as crude prices rise (The Guardian)
Uncertainty over US-Iran ceasefire pushes price of Brent crude towards $100 a barrel
The boss of Abu Dhabi’s state-owned oil company has said the strait of Hormuz is “not open” despite the US-Iran ceasefire agreed earlier this week, as uncertainty over the truce pushed the price of Brent crude towards $100 a barrel on Thursday.
Sultan Al Jaber, the chief executive officer of the Abu Dhabi National Oil Company (Adnoc), said passage through the crucial waterway was subject to “permission, conditions and political leverage” by Iran. He said energy security and global economic stability depended on the strait being opened “fully, unconditionally and without restriction”.
Al Jaber wrote on LinkedIn: “The weaponisation of this vital waterway, in any form, cannot stand. This would set a dangerous precedent for the world – undermining the principle of freedom of navigation that underpins global trade and, ultimately, the stability of the global economy.
https://www.theguardian.com/business/2026/apr/09/oil-price-rises-as-markets-question-durability-of-middle-east-ceasefire-iran
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