Bloomberg: Hormuz 'Double Blockade' Halts Ship Traffic for First Time in History — Brent $107.58

Bloomberg reported on April 26, 2026 that the US-Iran dual blockade of the Strait of Hormuz had effectively halted all commercial ship traffic — described as the first time in history that passage through the world's most critical oil chokepoint became virtually impossible from both directions simultaneously. Iran holds the MSC Francesca, Epaminondas, and other seized vessels while the US Navy blockades Iranian-flagged and sanctioned-cargo ships from exiting. Brent crude rose 2.14% to $107.58/bbl; WTI rose 2.08% to $96.36/bbl as oil markets priced in continued disruption. An IRGC spokesperson declared the Strait would 'under no circumstances' return to its previous state even after a ceasefire. UK Prime Minister Starmer called President Trump to discuss the 'urgent need to get shipping moving again,' warning of 'severe consequences on the global economy.' The UN FAO issued a new food price alert citing rising fertilizer and energy costs. European natural gas prices continued their upward trajectory. Approximately 500+ tankers remain stranded in the Gulf region with no resolution in sight.