Mohammad Mokhber, advisor and assistant to the leader of the Islamic Republic, says the Strait of Hormuz has been closed and will not be reopened except by the will of the Islamic Republic

The announcement regarding the closure of the Strait of Hormuz signals a significant escalation in geopolitical tensions, particularly regarding oil supply routes. This closure could lead to rising oil prices as the Strait is a critical chokepoint for global oil shipments; markets are likely to react with increased volatility. Traders should assess potential impacts on energy stocks and commodities, alongside broader risk sentiment.