Iran official says Hormuz will remain closed unless US meets conditions

The secretary of Iran's Supreme National Security Council announced that the Strait of Hormuz will remain closed until the U.S. meets specific conditions and changes its behavior to end the war. This decision depends on Washington abiding by commitments in a June memorandum of understanding. Consequently, U.S. stocks have fallen, while analysts warn that the prolonged closure could destabilize global oil markets, increase geopolitical tensions, and impact energy prices worldwide despite ongoing talks mediated by Oman.