Iran has reaffirmed its decision to keep the Strait of Hormuz closed, stating that transit will remain blocked as long as the US naval blockade persists. This decision comes amid rising tensions that threaten to escalate the ongoing conflict and deepen the global energy crisis, with around 20% of the world's oil passing through this critical chokepoint. The Revolutionary Guard navy announced the closure, following an incident where Iranian gunboats fired on a tanker, although no casualties were reported. Iranian Parliamentary Speaker Mohammad Bagher Qalibaf emphasized that the strait is under Iran's control and will remain closed until the US lifts its blockade. He expressed Iran's desire for lasting peace but highlighted significant distrust towards the US. Meanwhile, a 10-day ceasefire between Israel and Hezbollah seems to be holding, despite ongoing violence in the region that has claimed thousands of lives. The situation remains precarious, with potential implications for global oil prices and regional stability.