US intelligence have begun to see indications Iran is taking steps to deploy mines in Strait of Hormuz shipping lane, CBS reports

Full post: US intelligence assets have begun to see indications Iran is taking steps to deploy mines in Strait of Hormuz shipping lane. Iran is using smaller crafts that can carry 2 to 3 mines each. While Iran’s mine stock isn’t publicly known, estimates over the years have ranged from roughly 2,000 to 6,000 naval mines of Iranian, Chinese and Russian-made variants.

The report of Iran potentially deploying mines in the Strait of Hormuz signals heightened geopolitical tension that could disrupt key shipping lanes, especially for oil. Given that this area is crucial for global oil transit, such developments could lead to upward pressure on energy prices while also impacting safe-haven assets like gold. Traders should watch for volatility in crude oil markets and related currencies as this situation evolves.