Iran Bars US Forces from Key Gulf Waterways, Oil Prices Soar

Iran's top military commander declared that U.S. forces will no longer be permitted to enter the Persian Gulf, the Gulf of Oman, or the Strait of Hormuz.

The statement was made by Major General Abdolrahim Mousavi, commander-in-chief of Iran's army, and marks a significant escalation in tensions between Iran and the United States.

Brent crude prices rose to nearly $89 per barrel and WTI traded near $81, as traders repriced Middle East risk. Spot gold hit $4,383 per ounce, up 10% since late June, while spot silver gained over 0.7%.

The market reaction was driven by the geopolitical risk premium, with Iran's statement seen as a direct challenge to global energy transportation. The Strait of Hormuz is the world's most critical oil transit chokepoint, carrying approximately one-fifth to one-quarter of global oil consumption.