US and Iran Exchange Fire as Trump Says Ceasefire Remains in Place

The Strait of Hormuz is a critical chokepoint for global oil and LNG shipments. Any military exchange raises the risk of supply disruption, even if brief. The mechanism is supply_shortage and logistics risk: a prolonged closure would reduce available crude and gas volumes, spiking prices. However, the article indicates a quick return to normal and no lasting damage, so the commercial impact is weak and temporary. The primary affected products are crude oil (Brent/Dubai benchmark) and LNG cargoes transiting the strait. The channel is logistics (transit time/insurance) and supply_shortage (if escalation resumes).