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A blockade of the Strait of Hormuz causes oil prices to jump 4% immediately; the Middle East chess game is becoming increasingly dangerous.
The report states that Iran demands Israel immediately cease military operations in Gaza and Lebanon, and fully withdraw from its occupied areas in Lebanon before negotiations can resume. Iran has stated that negotiations will not restart until the relevant conditions are met.
Additionally, Iran and the "Resistance Front" are reportedly planning to impose a complete blockade of the Strait of Hormuz and have warned that other frontlines, including the Strait of Manda, may be activated as retaliatory measures.
Following the news, international oil prices surged rapidly during trading, with both WTI and Brent crude prices rising by over 4% at one point during the day; the US dollar index rose to its intraday high, and US Treasury bond prices declined.