Global Markets Brace as Iran Closes Strait of Hormuz Following U.S. Strikes
The Islamic Revolutionary Guard Corps (IRGC) announced on Tuesday that it has effectively closed the Strait of Hormuz to all maritime traffic, a direct retaliation following a series of targeted U.S. military strikes in the region. This closure of the world’s most critical oil chokepoint, located between Oman and Iran, threatens to disrupt nearly 20%…