With oil surging to a six month high after a now confirmed report that Trump will not reissue Iranian oil export waivers after they expire on May 2, removing up to 1 million barrels from the market… … Tehran has gone on the offensive and on Monday a senior Iranian military official said the Islamic Republic will close the Strait of Hormuz if it’s prevented from using it, the state-run Fars news agency reported. “The Strait of Hormuz based on international law is a waterway and if we are prevented from using it, we will close it, ” Reuters reported , citing Alireza Tangsiri, head of the revolutionary guards navy force. Separately, the semi-official Tasnim news agency on Monday quoted an unnamed Iranian oil ministry source as saying that “ whether the waivers continue or not, Iran’s oil exports will not be zero under any circumstances unless Iranian authorities decide to stop oil exports … and this is not relevant now.” The source...
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