Iran’s Revolutionary Guards said Wednesday they had “complete control” of the crucial Strait of Hormuz as the war engulfing the Middle East continued into its fifth day.
The Revolutionary Guards said Iranian forces had “complete control” of the Strait of Hormuz, a vital route for world oil and gas supplies, and any vessels seeking to pass risked damage from missiles or stray drones.
US President Donald Trump said Tuesday the US Navy was ready to escort oil tankers through the crucial Gulf shipping route.
With some warning that they could top $100 a barrel, equity markets are taking a pounding.
“Asian equities are now staring at a third consecutive day of losses, and the reason is not mysterious,” wrote Stephen Innes at SPI Asset Management.
"When crude edges are higher, the invoice lands harder in Asia, where imported energy is not just a line item but a structural dependency.
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