Iran has announced that the closure or reopening of the Strait of Hormuz will depend on actions taken by the United States, according to a senior Iranian official cited by Al Jazeera. This strategic strait is essential for global oil and gas shipments. Both countries are engaged in a diplomatic standoff regarding control of this maritime route. Markets have reassessed the odds of a US-Iran agreement by August 15, raising them to 69.5%, up from 62% twenty-four hours ago.
Source: Read the original article
