Iran war: Khamenei pledges new Strait of Hormuz 'management'

Key Points:

• Iran's Supreme Leader Mojtaba Khamenei signaled intentions to maintain its nuclear program and impose new management, potentially tolls, on the Strait of Hormuz, emphasizing safeguarding national assets and regional security.
• German Chancellor Friedrich Merz urged Iran to cease delaying tactics, come to the negotiating table, and end its nuclear program, warning of increased sanctions and expressing readiness to contribute militarily to ensure freedom of maritime routes.
• The US military reported a "highly effective" blockade against Iran, preventing the sale of approximately 69 million barrels of Iranian oil worth over $6 billion, while Iran's president declared the blockade "doomed to fail" and contrary to international law.
• Oil prices experienced volatility, with Brent crude briefly surpassing $120 per barrel overnight before settling around $110, reflecting tensions from the Middle East conflict and its impact on global energy markets.
• US Defense Secretary Pete Hegseth testified before Congress amid debates over the Iran conflict's costs and legality, asserting that the ongoing ceasefire pauses the 60-day War Powers Act deadline for congressional war approval.