Tugboat Daily Brief - Iran-Israel Conflict - 2026-05-18
The US extended the Iran-Israel ceasefire while simultaneously enforcing a blockade on Iranian oil exports, prompting the IRGC to seize commercial vessels in the Strait of Hormuz. Hezbollah also launched drone attacks in southern Lebanon that resulted in the deaths of two French UNIFIL peacekeepers, causing Brent crude to drop nearly four percent as markets weighed immediate supply disruptions against long-term volatility.
Key Developments
The US Navy enforced a blockade on Iranian oil exports at Kharg Island while President Trump unilaterally extended the ceasefire.
IRGC naval forces seized…
The skinny
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