Iran Threatens Key Oil Routes as Ceasefire With U.S. Collapses

Tensions between the United States and Iran have entered a volatile new phase following the collapse of a recent ceasefire. In a significant escalation of rhetoric, Iranian state media reported that the regime is prepared to close the Strait of Hormuz to all maritime traffic and launch strikes against oil production facilities across the Gulf if U.S. military actions continue. This shift toward economic warfare comes as shipping in the critical waterway has already reached a standstill, causing global oil prices to surge by nearly 6%. On the diplomatic front, President Trump formally declared the ceasefire memorandum 'over' during a NATO summit in Turkey but has reportedly allowed covert back-channel communications to persist. Simultaneously, the administration has expanded its economic campaign against Tehran by revoking Thailand's license to sell oil on the global market, a move intended to further choke off Iranian energy revenues. Regional instability is also mounting as Iran has moved beyond direct confrontations with the U.S. to target regional neighbors. Missile alert sirens have been activated in Bahrain following cross-border strikes that have also impacted Kuwait and Qatar. These developments follow a week of heavy military exchanges, including U.S. strikes on over 80 Iranian targets after Tehran allegedly attacked commercial vessels in the Strait of Hormuz.