Iran has closed all diplomatic and indirect channels of communication with the US, Tehran Times reports; Any and all message exchanges have also been suspended

The closure of all diplomatic communication channels between Iran and the US marks a significant escalation in tensions, likely impacting energy markets, particularly oil. Without any indirect channels for negotiation, the risk of further sanctions or military conflict increases, potentially supporting WTI prices in the near term as supply concerns heighten. Markets may react to this development by seeking safe-haven assets and reassessing global supply dynamics, especially in light of ongoing geopolitical risks.