A post by @FirstSquawk on X.

Iranian Major General Rezai said the Strait of Hormuz will remain closed until Iran's seven conditions are met, signaling no imminent reopening of the world's most critical oil chokepoint. The strait normally carries roughly 20 million barrels per day, about a fifth of global petroleum consumption, so a prolonged closure keeps upward pressure on crude prices and freight and insurance costs. The specific seven conditions were not detailed in the headline, leaving markets to parse follow-up statements for whether they include sanctions relief or other political demands. Traders will watch tanker traffic, Brent and WTI spreads, and any negotiating signals from Washington and Tehran for signs of a timeline.