The chief executive of Abu Dhabi’s state-owned oil company has warned that the Strait of Hormuz is “not open”, despite the US-Iran ceasefire agreed earlier this week.
Sultan Al Jaber, who leads the Abu Dhabi National Oil Company (Adnoc), said passage through the strategic waterway remains subject to “permission, conditions and political leverage” by Iran. His comments came as markets weighed the durability of the ceasefire and the price of US oil rose above $100 a barrel on Thursday.
The Strait of Hormuz is one of the world’s most important shipping routes for energy supplies, and concerns about access to it have long been closely watched by oil markets. Al Jaber said energy security and global economic stability depend on the strait being opened “fully, unconditionally and without restriction”.
The warning adds to broader uncertainty in the Middle East after the US-Iran truce, with traders and analysts monitoring whether the agreement will hold and whether the flow of oil and other cargoes through the region could be affected.
Thursday’s move in prices reflected those concerns, with US crude climbing above the $100-a-barrel mark as investors questioned how durable the ceasefire may be. The rise underscored how quickly geopolitical tension can feed into global energy markets.
Al Jaber’s remarks were notable because they came from the head of one of the region’s biggest state-owned energy companies. Adnoc plays a central role in the UAE’s oil sector, and its chief executive’s comments highlighted the scale of concern among industry leaders about the strategic importance of the strait.
The developments come as global markets continue to respond to shifting signals from the Middle East, where oil supply routes, diplomatic developments and security risks remain closely linked. With the ceasefire still fresh, the focus is now on whether the agreement can reduce tensions enough to ease pressure on shipping lanes and calm commodity markets.
For now, the message from Abu Dhabi’s oil chief was clear: the Strait of Hormuz cannot yet be assumed to be fully available for unrestricted passage, and that uncertainty is helping drive crude prices higher.
