Iran's army says the western section of the Strait of Hormuz is entirely under IRGC control, eastern section in control of the army which operates in coordination.
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Iran's army says the western section of the Strait of Hormuz is entirely under IRGC control, eastern section in control of the army which operates in coordination.
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Context
This announcement underscores increased Iranian control over a key global chokepoint for oil, which could escalate tensions in the region. The full control claimed by the IRGC, coupled with the army's coordination, may heighten risks for maritime shipping and contribute to volatility in oil prices. Traders should monitor this situation closely for potential impacts on WTI and energy markets.
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