Iran admits it cannot locate or remove all naval mines it laid in the Strait of Hormuz, confirmed by US officials.
The mine issue jeopardizes President Trump's mandate for an immediate, safe reopening of the waterway, a condition for a two‑week ceasefire.
Market participants note 15% of global oil supply blocked by mines will not return in a single wave, keeping prices volatile.
Reopening is expected to be a protracted, multi‑month process, maintaining high alert for energy logistics into mid‑2026.