Overview

• On June 22, U.S. forces struck Iran’s Fordow, Natanz and Isfahan nuclear facilities in President Trump’s first direct military action in the Iran–Israel conflict.
• Brent crude surged as much as 5.7 percent to over $81 a barrel before settling near $79 and U.S. stock futures declined as traders priced in heightened geopolitical risk.
• Iran’s parliament approved a nonbinding measure to close the Strait of Hormuz, though the final decision rests with the Supreme National Security Council and Ayatollah Khamenei.
• Secretary of State Marco Rubio warned that shutting the waterway would be “economic suicide” for Iran and urged China to pressure Tehran to keep the strait open.
• Analysts caution that any disruption of the Hormuz chokepoint, which handles about 20 percent of global oil flows, could drive prices toward $100 a barrel and unsettle the world economy.