Iran's IRGC Navy mandates designated routes and permits for foreign vessels in the Strait of Hormuz, raising concerns over oil prices and market volatility.

Iran's IRGC warns ships to use approved Strait of Hormuz routes only, threatening action against unauthorized transit.

The U.S. and Iran have been engaged in public disputes over the terms of their interim deal, fueling continued uncertainty about the future of the crucial waterway even as oil…