Diplomatic talks over the Strait of Hormuz are stalling fast, and energy markets are feeling every word of it. The declaration landed at a particularly delicate moment, just as Omani-mediated negotiations over the reopening of the Strait of Hormuz were showing signs of collapse. A strait that moves the worldThe Strait of Hormuz handles roughly 20% of global oil and petroleum liquids trade, equivalent to approximately 20 million barrels per day under normal conditions. For oil markets specifically, prolonged uncertainty drives refiners and shippers to adjust procurement strategies and freight costs rise before any physical barrel goes missing. Munitions stockpiles on the US side are also reportedly under strain after a prolonged period of military engagement in the region.