Iranian Presidency says Pezeshkian confirmed in a call with the President of the European Council that the Strait of Hormuz is closed to ships of the aggressor countries and their supporters, according to Al Jazeera

This development signals a notable escalation in tensions surrounding the Strait of Hormuz, a critical chokepoint for global oil shipping. The closure mentioned could impact oil prices significantly and leads to heightened geopolitical risk, especially for currencies and commodities linked to oil. Traders should watch for market reactions in energy sectors and safe-haven assets as this situation unfolds.