FACTBOX: Iran vows to keep Hormuz closed as oil hits multiyear highs

Iran’s new supreme leader, Mojtaba Khamenei, has vowed to keep the Strait of Hormuz closed, as the war in the Middle East entered its 13th day with crude prices surging despite upcoming strategic petroleum reserve releases. The comments came as the International Energy Agency declared that the war had caused the “largest supply disruption in history,” forcing global oil production to four-yearIran’s new supreme leader, Mojtaba Khamenei, has vowed to keep the Strait of Hormuz closed, as the war in the Middle East entered its 13th day with crude prices surging despite upcoming strategic petroleum reserve releases. The comments came as the International Energy Agency declared that the war had caused the “largest supply disruption in history,” forcing global oil production to four-yearRead More