Iranian Parliamentary Speaker Mohammad Bagher Ghalibaf has announced that the Strait of Hormuz will remain closed until the United States fulfills its commitments from a June agreement. This decision marks a significant escalation in tensions between the two nations, which have been in delicate negotiations over this strategic waterway. The Strait of Hormuz, a critical passage for global oil shipments, has become a focal point of regional geopolitical tensions. Market participants now assess a 25% decrease in the probability of a U.S.-Iran agreement.
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