WASHINGTON, April 14 -- The head of the French energy giant TotalEnergies said Monday that reopening the Strait of Hormuz - even with a toll - was critical for global markets.

"It's clear that reopening and the free circulation through the Strait of Hormuz, even if you have to pay to anybody, is fundamental for the freedom of markets and global markets," Patrick Pouyanne, the company's CEO, said at an event on the sidelines of the IMF and World Bank spring meetings in Washington.

Since the start of the war in the Middle East on February 28, shipping across the strait - through which some 20 percent of the world's oil and gas is transported - has been largely paralyzed.

On Monday, US President Donald Trump further ordered a naval blocka...