The Strait of Hormuz has been closed "until further notice" by Iran, following a significant escalation in military hostilities with the United States.
Tehran announced the closure after launching attacks on US military bases in Kuwait and Bahrain, responding to American strikes on approximately 140 military targets within Iranian territory.
The move marks a dramatic deterioration in the geopolitical landscape, shattering the fragile truce established by the June 17 memorandum of understanding between Washington and Tehran.
Energy markets are reacting swiftly to the threat of a physical blockade at the world's most critical oil shipping chokepoint.
Brent crude and WTI futures are under intense pressure as traders price in the risk of severe supply disruption.
The closure threatens to cut off a substantial portion of global oil shipments, potentially driving energy prices higher and reigniting inflationary concerns that had recently begun to subside.