IEA warns renewed U.S.-Iran fighting and Hormuz closure threaten energy markets

Renewed fighting between the United States and Iran deepened risks to global energy, shipping, financial and crypto markets as Iran's Islamic Revolutionary Guard Corps said the Strait of Hormuz was closed to ship traffic and the United States expanded strikes across southern Iran. U.S. Central Command said its latest operation struck about 140 Iranian military sites in multiple waves, while separate reporting said attacks from July 9 through July 11 targeted ports and military installations including Jask and Bandar Abbas. Other reports cited attacks linked to Bushehr province and an Iranian missile strike on Jordan on July 9, adding to geopolitical risk. The International Energy Agency warned disruption at Hormuz could worsen the energy crisis, oil rose above $78, and Bitcoin fell from above $73,000 to as low as $61,688, with more than $1 billion in crypto liquidations. The market stress also coincided with a U.S. Treasury sanctions action against Nobitex, described as Iran’s largest cryptocurrency exchange.