00:00The US and Israel's war against Iran has spilled over into the Strait of Ormuz,
00:06one of the world's most critical oil transit routes.
00:10A senior official from the Iranian Revolutionary Guards declares the straits is closed,
00:15warning that any vessel attempting to pass through would be targeted.
00:19Following the threat, oil prices rose for a third straight day,
00:23with Brent crude futures climbing towards US$80 a barrel.
00:27Analysts warn prices could spike to around US$100 a barrel in the coming days if the conflict continues to
00:35escalate.
00:35Around 20% of global oil supplies pass through the strait,
00:40making any disruption a major risk to energy markets and global trade.
00:45Meanwhile, the Iranian government says it remains focused on defence following attempts at negotiations.
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