Iran has begun laying mines in the Strait of Hormuz, a critical waterway through which 20% of the world's oil passes, according to U.S. officials. The Islamic Revolutionary Guards Corps is deploying small boats for the operation, creating a new challenge for American efforts to restore shipping lanes in the region after Iran closed the strait following U.S. and Israeli attacks.

President Trump has warned Iran against mining efforts, threatening to strike Iran "twenty times harder" if oil shipments are blocked. The U.S. military has already destroyed larger Iranian vessels and attacked 16 Iranian mine-laying ships. Iran's new supreme leader, Mojtaba Khamenei, has declared that "the lever of blocking the Strait of Hormuz must continue to be used."

Oil markets remain volatile as Iran's actions threaten global supply chains. The strait's closure would send prices soaring and disrupt commerce worldwide. Energy companies already face increased insurance costs and rerouting challenges. With projectiles already striking multiple vessels, investors are monitoring the situation closely for any further escalation that could trigger a wider conflict in the energy sector.