Iranian military warns the US Navy not to approach or enter the Strait of Hormuz

The Unified Command of the Iranian armed forces warned on Monday the US Navy not to approach or enter the Strait of Hormuz. It further stated that it will ‘respond harshly’ to any threat at any level and in any part of Iran. 

Key quotes

US aggressive actions will only ‘complicate current situation’ and endanger the security of vessels in the Gulf. 

All commercial ships and oil tankers must refrain from any movement without coordination with Iranian military stationed in the Strait of Hormuz.

Will ‘respond harshly’ to any threat at any level and in any part of Iran. 

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is down 1.76% on the day at $97.80.