Iran announces it will block the Strait of Hormuz on June 20; CENTCOM reports that 55 ships have passed through with 17 million barrels of oil. According to Khatam al-Anbiya Central Headquarters, the Iranian military’s operational command announced on June 20 that it would close the Strait of Hormuz—a strategic waterway responsible for 20% of global oil transportation—as a retaliatory measure. The move followed Iran’s claim that the United States violated a ceasefire memorandum signed between President Donald Trump and Iranian President Masoud Pezeshkian. On the same day, U.S. Central Command rebutted that 55 commercial vessels had successfully transited the Strait of Hormuz and delivered more than 17 million barrels of oil to global markets, with safe passage still intact. At the time of the announcement, the Israel Defense Forces launched a large-scale airstrike against Lebanon. Since ceasefire talks began, oil prices have fallen to $77 per barrel; meanwhile, with geopolitical risks easing, Bitcoin has risen and climbed above $66,000.