According to breaking news, the commander of Iran’s Revolutionary Guard has stated that the Strait of Hormuz is closed and Iran will set fire to any ship attempting to pass through.
An official speaking on Iranian state television said, “We will not allow oil to leave the region.”
U.S. President Donald Trump, in his first public statement since the start of the conflict, said the war was expected to last 4 to 5 weeks, but that it “could be much longer.” Trump’s remarks reinforced expectations that the conflict might not end in the short term.
U.S. Defense Secretary Pete Hegseth stated that the President has “full authority” regarding the duration of the war, signaling that the administration can be flexible on military strategy. The Strait of Hormuz is known as a critical waterway through which approximately one-fifth of global oil trade passes.
*This is not investment advice.
