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BREAKING: Iran’s IRGC launched missiles in the Strait of Hormuz today as part of its "Smart Control of the Strait" naval drill, live-fire exercises testing readiness amid rising US-Iran tensions and upcoming nuclear talks.
Why it matters: 20% of world oil flows through this chokepoint.
Any risk here = global energy shock.
As of now, US futures are trading negative after the long weekend.
Gold is down 2%, silver down 5%.
Crude Oil WTI is up 2%.