Members of US President Trump’s National Security team presented him with multiple options this week for how to handle the continuing bottleneck in the Strait of Hormuz, NBC reports, citing a US official

The potential escalation in actions regarding the Strait of Hormuz could lead to significant geopolitical tensions, impacting oil supply routes and sparking volatility across commodities and currencies. Given its strategic importance, traders in energy markets should be vigilant as this situation may influence oil prices and related currencies, while also potentially affecting broader market sentiment across equities and FX. This could represent a meaningful shift in U.S. foreign policy, impacting not just regional dynamics but global economic conditions as well.