Brent Surpasses $103 Amid Intensifying Hormuz Crisis as U.S. Records Landmark Oil Exports

 Amid ongoing mutual naval blockades, Iran's chief negotiator Mohammad Baqer Qalibaf announced that a ceasefire remains incomplete without lifting the blockade, deepening concerns over 2026 global energy supplies. U.S. oil exports reached a record 12.88 million barrels per day as Asian and European nations turn to alternatives for disrupted Iranian oil. With Iran tightening its grip on the waterway and the U.S. intercepting tankers in Asian waters, analysts are monitoring the implications of this persistent conflict on global energy security during the second quarter of the year.