Global Crisis Unfolds: Iran Blocks Strait of Hormuz, Oil Prices Plummet, War Looms

Tehran: Global politics and energy markets have taken a shocking turn in the last 24 hours. The world has been stunned by Iran's re-announcement of a blockade on Sunday in the hope of opening the Strait of Hormuz, where oil prices fell by 10 percent as of Saturday. The Islamic Revolutionary Guard Corps (IRGC) has taken an aggressive stance and closed the Strait of Hormuz immediately after Iranian Foreign Minister Abbas Araghchi's peaceful statement. In protest against the US blockade, Iran has made it clear that any ship attempting to pass will be targeted, as evidenced by the shooting down of two ships off the coast of Oman. The emergency meeting between President Donald Trump and top military officials at the White House has increased the specter of war. Trump has stated in clear terms that he will not accept "blackmail" by Iran and is ready to bomb again if necessary. General Mohammed Ghimire has warned that the second Iranian nuclear war is ending in May 2026.