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Tensions in the Strait of Hormuz intensified this week after Iran's IRGC Navy said a 'rogue' supertanker exploded after striking a naval mine while trying to exit the strait via an unauthorized route, and another tanker was attacked off Qatar. Iran declared it would keep a key shipping route closed until its conditions are met, while the IRGC renewed warnings to vessels violating designated routes and blamed US military 'aggression' for the escalation. The unrest pushed Brent crude up roughly 5% to around $105 a barrel, triggering ripples in global bond and stock markets, amid reports the White House is weighing further strikes against Iran before the US midterms. The standoff underscores the fragile security of one of the world's most critical oil chokepoints.