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According to the latest reports, Iran's Islamic Revolutionary Guard Corps (IRGC) Navy has announced the closure of the Strait of Hormuz until further notice following an incident involving a commercial vessel. The move marks a significant escalation in tensions between Iran and the United States. If the situation persists, several major consequences could follow: • Oil prices may surge, as the Strait of Hormuz is a critical chokepoint through which roughly 20% of the world's seaborne oil trade p