PODCAST:
April 10, 2026 ~ Paul Sankey, lead analyst at Sankey Research, joins Chris Renwick, Lloyd Jackson, and Jamie Edmonds. He discusses the Strait of Hormuz, oil prices, and market reactions to the ceasefire.
IRAN ~ Lebanon and the Strait of Hormuz continue to be sticking points in the tense and fragile ceasefire talks between the U.S. and Iran, with direct negotiations set for Saturday.
President Donald Trump wrote on Truth Social that “Iran is doing a very poor job, dishonorable some would say, of allowing Oil to go through the Strait of Hormuz. That is not the agreement we have!” Few ships have traveled through the waterway vital for a large chunk of the global oil supply, which Iran closed to its adversaries after the U.S. and Israel began bombing the country on Feb. 28.
Meanwhile, Israel continues its strikes on Lebanon, killing hundreds of people. The nation is doing this despite Iran stating that Lebanon was part of the tentative 10-point ceasefire plan it proposed to the U.S. earlier this week and moderated by Pakistan. Officials like Israeli Prime Minister Benjamin Netanyahu and Vice President JD Vance have said that Lebanon was never part of the deal, though Israel has claimed it sent requests for direct negotiations with Lebanon.
“If the U S. wishes to crater its economy by letting Netanyahu kill diplomacy, that would ultimately be its choice,” Iranian Foreign Minister Abbas Araghchi wrote on X. “We think that would be dumb but are prepared for it.“
