Iranian Revolutionary Guard says it hit a US oil tanker earlier this morning, SNN reports; Tanker hit in North Persian Gulf and is now burning; US, Israeli and European vessels are not allowed in the Strait of Hormuz

The attack on a US oil tanker by the Iranian Revolutionary Guard marks a significant escalation in regional tensions, particularly affecting security and navigation through the Strait of Hormuz. This could lead to supply disruptions, thereby putting upward pressure on oil prices and impacting broader market sentiment regarding risk assets. Traders should closely monitor oil price movements and related commodities, as geopolitical risks can cause volatility in these markets.