Iran says Strait of Hormuz is closed

JUST IN: Iran says the Strait of Hormuz is now closed.
That is one of the most important geopolitical headlines for energy markets.
The Strait is a critical chokepoint for global oil flows.
Any disruption can immediately affect crude prices, shipping routes, insurance costs, and inflation expectations.
For $WTI and $BRENT, the risk premium is back in focus.