Iranian state-owned outlet Press TV has released a new report quoting Major General Kowsari, a senior member of the Iranian Parliament's National Security Commission, who stated: "The Parliament has reached the conclusion that the Strait of Hormuz should be closed, but the final decision in this regard lies with the Supreme National Security Council." If Ayatollah Ali Khamenei approves the proposed closure of the critical maritime chokepoint—through which approximately 30% of global seaborne oil and 20% of LNG transit—Brent crude and natural gas futures will surge sharply this evening. Reuters earlier cited lawmaker ... (full story)