Iran reportedly believes that its military should have control over the Strait of Hormuz, according to an official cited by local media

Iran's assertion of military control over the Strait of Hormuz heightens tension in a critical oil transit route, which has implications for global energy prices and geopolitical stability. This could lead to increased volatility in oil markets, impacting currencies closely tied to energy exports, while also drawing attention from major powers like the U.S. and affecting broader forex flows. Traders should monitor how this development might influence risk appetite and safe-haven assets such as gold.