Iran says Strait of Hormuz closed again, citing Israeli strikes in Lebanon and US “bad faith”, raising fears over global oil route disruption and escalation.

Iran says Strait of Hormuz closed again, citing Israeli strikes in Lebanon and US “bad faith”, raising fears over global oil route disruption and escalation.

Crude oil prices soared past $81 as Iran reportedly closed the Strait of Hormuz following escalating regional conflicts, while Asian stock markets reached record highs.