Global energy crisis deepens as Strait of Hormuz remains disrupted.

Global energy crisis deepens as Strait of Hormuz remains disrupted. UN Secretary-General António Guterres has proposed a formal mediation framework to restore navigation and halt retaliatory strikes in the world's most critical energy chokepoint. The ongoing conflict has disrupted approximately 20 million barrels of oil daily, representing 20 percent of global supply and pushing Brent Crude to $120 per barrel. The International Energy Agency has authorized a record 400 million barrel release from emergency stocks, though analysts warn this is temporary without diplomatic resolution. Energy majors including ExxonMobil and Chevron face unprecedented operational risks as over 150 vessels remain stranded or diverted. Maritime insurance premiums have surged over 300 percent while shipping companies reroute around the Cape of Good Hope, adding ten to fourteen days to transit times.