Iran has suspended communication with the U.S. through intermediaries and announced plans to fully block the Strait of Hormuz, according to state media.
The decision follows ongoing tensions and alleged ceasefire violations, deepening uncertainty over the vital shipping route.
The Strait facilitates nearly 20% of the world's oil shipments, and any escalation in the region could trigger significant market volatility.
The Strait of Hormuz, a key passage for global oil exports, has been a focal point of geopolitical friction for months.
Brent crude prices edged higher in response to the news, reflecting renewed concerns over potential disruptions to energy flows.
The Strait facilitates nearly 20% of the world's oil shipments, and any escalation in the region could trigger significant market volatility.
Analysts are closely monitoring whether the situation will lead to tangible shipping delays or insurance cost spikes.