President Donald Trump claimed the Strait of Hormuz as « new US territory » on Truth Social, while Iranian military official Mohsen Rezaei stated that the strategic waterway will remain closed until the United States alters its behavior. This escalation comes amid already strained US-Iran diplomatic relations. Markets reacted to these statements, with the probability of a US-Iran agreement by August 31 dropping from 3% to 2.5%. A prolonged closure of the Strait of Hormuz could have significant geopolitical and economic implications, particularly for global oil shipments.
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