Oil prices rose sharply after Iran announced it would no longer adhere to its interim agreement with the United States. The country has warned it may restrict access to the Strait of Hormuz, a key global oil transit route, potentially requiring approval for shipments to pass through. This escalation follows a series of nine U.S. military strikes targeting Iranian assets. President Trump emphasized that the ongoing operations aim to permanently block Iran’s path to nuclear weapons. Market participants reacted with concern, fearing prolonged supply disruptions in one of the world’s most critical energy chokepoints.
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