Iranian Military Official says military vessels are not allowed to pass the Strait of Hormuz, State TV reports; adds ships passing through the determined route need IRGC permission

The statement from the Iranian military official regarding restrictions on military vessels passing through the Strait of Hormuz signals a potential escalation in regional tensions.

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Iranian Military Official says military vessels are not allowed to pass the Strait of Hormuz, State TV reports; adds ships passing through the determined route need IRGC permission

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Given that this strait is crucial for global oil transport, any restrictions could impact oil supply routes and drive prices, particularly for WTI, higher if the geopolitical situation worsens.

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