Oil prices climb as Iran signals Strait of Hormuz will stay closed

Key Points:

• Iran’s Supreme Leader Mojtaba Khamenei has made significant military leadership changes, appointing new heads for the armed forces, IRGC, IRGC Navy, and Basij militia, emphasizing stronger deterrence and readiness for offensive operations.
• US-mediated talks between Israel and Lebanon over disputed territories have stalled, with no scheduled future meetings; Israeli airstrikes in southern Lebanon and disagreements over territorial withdrawals have overshadowed the negotiations.
• President Donald Trump has imposed new conditions on Iran negotiations, demanding compensation for past conflicts and casualties, complicating prospects for reopening the Strait of Hormuz amid ongoing US-Iran tensions.
• Iranian photojournalist Yalda Moaiery was sentenced to 15 years in prison on charges of acting in the interests of Israel and the US, highlighting an intensified crackdown on media and journalists within Iran.
• The newly signed mutual defense pact between Saudi Arabia, Turkey, and Pakistan has drawn criticism from Iran, which views the agreement as ineffective for Saudi security amid ongoing regional conflicts, including escalating tensions involving Iran-backed Houthi rebels in Yemen.