Iran's Islamic Revolutionary Guard Corps (IRGC) navy laid more mines in the Strait of Hormuz this week, according to a US official and a source cited by Axios

The laying of mines by Iran's IRGC in the Strait of Hormuz escalates tensions in a crucial shipping lane, which could lead to disruptions in oil supply.

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Iran's Islamic Revolutionary Guard Corps (IRGC) navy laid more mines in the Strait of Hormuz this week, according to a US official and a source cited by Axios

Recent sound of defense systems in Tehran and several other cities in Iran was in response to the presence of micro-aircraft and small drones, including the "Orbitor" type, in several parts of the country, Fars reports

Brazil government to announce reduction in fuel taxes to mitigate the impact of rising international prices; measures to be announced at 5pm local time at press conference

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This heightens risks for WTI and related commodities, suggesting potential upward pressure on prices as markets react to geopolitical uncertainty.

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