Iran's strikes on the Abu Dhabi Crude Oil Pipeline at Fujairah eliminated the main Strait of Hormuz bypass, pushing Brent crude to a peak of $114/bbl. The $30-40/bbl overshoot from pre-crisis levels implies up to 1.0 percentage point of CPI pressure, locking central banks into a hold.
US-Iran framework agreement includes Iran reopening the Strait of Hormuz within 30 days as part of a 60-day ceasefire extension amid energy market volatility. Source
