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Iran warns against unauthorized US transit through Strait of Hormuz

Iran said any unauthorized US transit would be confronted, while the warnings coincided with about a 4% jump in oil, with Brent above $79 a barrel.

Reported · Written up by our desk · Central Banks

Iran’s top joint military command warned that the United States would be confronted if it attempts any unauthorized transit through the Strait of Hormuz, and it said Iran would not allow the US to intervene in the strait’s management.

The command also cautioned regional leaders that any cooperation with the US would be considered a war against Iran, adding that if the war widens it would reach all countries in the region, according to FXStreet.

The alerts came as markets opened July with expectations shifting after a weaker US jobs report, with the US dollar strengthening and weighing on parts of the currency complex, including GBP/USD trading near the area of three-day lows around 1.3370 and EUR/USD slipping back toward the 1.1400 level.

In commodities and broader risk sentiment, FXStreet said gold extended weakness toward the $4,000 per troy ounce area, while oil prices rose nearly 4%, with Brent crude above $79 per barrel, alongside renewed concern over US and Iran tensions in the Middle East.

Latest closeGold $4,128.90 ▼0.0%|WTI crude $71.51 ▼0.8%|Brent $76.00 ▼0.4%

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