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
Context
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. 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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