Senior Iranian Lawmaker said a parliamentary proposal would bar oil tankers linked to the US and Israel from passing through the Strait of Hormuz "forever"

The statement from the Iranian lawmaker represents a significant escalation in tensions concerning the Strait of Hormuz, a crucial passage for global oil shipping. This move could lead to supply disruptions, impacting oil prices and potentially driving traders toward safer assets like gold or the dollar. Investors should closely monitor how this will affect geopolitical risk premiums and broader market sentiment on energy commodities.