Iran maintains Strait of Hormuz closure as crude prices surge amid escalating conflict

Tensions between the United States and Iran have prompted Tehran to signal a prolonged closure of the Strait of Hormuz, a vital maritime corridor for global oil shipments. As the strategic waterway remains shut, crude prices have climbed sharply due to concerns over potential supply disruptions and the broader geopolitical standoff. The closure threatens international commerce and adds pressure to volatile energy markets worldwide, with traders bracing for further economic effects from the ongoing conflict.