The Strait of Hormuz can be shut on a whim—oil markets tonight may end up taking another roller coaster ride.

CryptoGuan Network news: In the early hours of the 12th, the Islamic Revolutionary Guard Corps Navy of Iran announced that the Strait of Hormuz would be closed effective immediately, and that no ships may pass through. The statement said that any acts of foreign interference in Iran’s affairs regarding the Strait of Hormuz, or the illegal designation of ship navigation routes, would prompt Iran’s “firm response.” The statement also mentioned that a few hours earlier, ships attempted to sail along routes not approved by Iran, ignoring prompts and warnings to adjust course. One ship had its automatic identification system shut off; it was hit by Iran’s warning shots and stopped sailing. The statement warned that if the US uses this incident as a pretext to launch new attacks on Iran, Iran will respond forcefully and strike more American bases in the Middle East.