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.

Iran shut down the Strait of Hormuz after Israeli strikes killed 32 in Lebanon. Oil spiked 2%, US-Iran talks stalled, and crypto toll payments are in focus.

Brent and WTI crude oil benchmarks are rising today after Iran closed the Strait of Hormuz following the ongoing fighting in Lebanon.

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.