Current Affairs
After US Airstrikes, Iran Declares Hormuz "Closed" to All Vessel Traffic
Oil futures rose Thursday as Iran and the United States escalated military strikes, with Iran declaring the Strait of Hormuz "closed effective immediately for the passage of all types of vessels, including oil tankers and commercial ships." The closure follows U.S. airstrikes ordered by President Donald Trump on Wednesday targeting Iranian military sites, and Iranian retaliatory ballistic missile counterstrikes against U.S. installations in Bahrain, Kuwait and Jordan. UN Secretary-General António Guterres warned that "the ceasefire is more like a lesser-fire" and urged all parties toward diplomatic settlement.
