Iran re-closes Strait of Hormuz after Lebanon strikes, oil spikes above $120

After allowing a handful of ships through the Strait of Hormuz earlier that day, Iran's IRGC re-closed the strait following Israel's Lebanon strikes. Foreign Minister Araghchi said "the US must choose, ceasefire or continued war via Israel." Brent crude jumped back above $120 per barrel from below $100 on the ceasefire news.