Geopolitical events
On June 2, 2026, the Iranian Majlis (Parliament) officially voted to reject the "Strait of Hormuz Peace Framework" previously drafted with the United States, citing insufficient guarantees for the permanent lifting of secondary energy sanctions. This legislative action triggered an immediate 8.5% increase in global Brent Crude prices, reflecting market fears of a sustained naval blockade. The rejection complicates diplomatic efforts to stabilize global energy supply chains and has prompted the U.S. Department of Defense to maintain its "heightened readiness" posture in the Persian Gulf.