IRGC Navy deputy says in a recent case, Iranian forces fired warning shots after an American frigate showed “provocative behaviour” in the Strait of Hormuz, prompting it to change course, Fars reports

This development highlights escalating tensions in the Strait of Hormuz, a critical maritime route for oil shipments. The incident underscores the potential for conflict in the region, which could impact oil prices and influence risk sentiment across markets. Traders should watch for further responses that could affect supply dynamics and elevate geopolitical risk premiums in related assets.