Iran's top military command says it has shut the Strait of Hormuz, accusing the US and Israel of breaching the recent ceasefire agreement, mainly because of ongoing Israeli strikes in Lebanon.
The US rejects the claim.
US Central Command says shipping continues as normal, with 55 vessels passing through the strait on Saturday. Vice President JD Vance said there is "no proof" that Iran is blocking the route.
The Strait of Hormuz is one of the most important oil transit routes in the world, so even conflicting claims like these can quickly affect market sentiment.
With US-Iran talks set to take place in Switzerland, traders will be watching closely.
📊 Market note: Keep an eye on oil prices and energy-related assets, as headlines around the strait could lead to sharp short-term moves.