U.S. Naval Blockade Puts Pressure on Oil Markets
U.S. naval blockade kept Strait of Hormuz closed, limiting 20% of global oil trade.
Iran closed Strait of Hormuz on April 13 after U.S.-led air campaign began on February 28.
President Trump rejected Iran's proposal to reopen the Strait during a meeting with oil executives.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf called U.S. strategy 'junk advice'.
Analysts warn stalemate could last weeks, keeping oil prices elevated.
3 weeks ago