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CNBC Top News·2 min read

Strait of Hormuz must remain closed as 'tool to pressure enemy,' Iran's new supreme leader says

Iran's new leader asserts control over Strait of Hormuz

In his first public address since taking office, Iran's Supreme Leader Mojtaba Khamenei asserted that the Strait of Hormuz must remain closed as a strategic tool against adversaries, while also demanding the immediate closure of U.S. military bases in the region. His comments come in the wake of escalating tensions and have already led to a surge in oil prices, with predictions that they could reach $200 per barrel.

Key Takeaways

1.
Oil prices surged as Iran warned they could reach $200 per barrel.
2.
Khamenei's comments follow his appointment after the assassination of his father, Ayatollah Ali Khamenei.

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