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Iran's Khatam-al Anbiya military headquarters announced the closure of the Strait of Hormuz to all maritime traffic, citing U.S. ceasefire violations and Israel's non-withdrawal from Lebanon. The move threatens a significant disruption to global oil flows, with WTI already rising nearly $1 on Friday. Iran's negotiating team is still traveling to Switzerland, but warned the entire MoU is at risk if commitments go unfulfilled.

Iran has closed the Strait of Hormuz, citing ceasefire violations, according to Iran's MEHR news agency as reported by Reuters. The Strait of Hormuz is a critical chokepoint for global oil and gas shipments, handling roughly 20% of the world's oil supply. This action poses significant disruption risk to global energy markets and supply chains.

Three former executives — Andre Cronje, Michael Kong, and David Richardson — have resigned from the Sonic Labs board. Concurrently, Matt Visser has been appointed as the new CEO of Sonic Labs, succeeding Mitchell Demeter who had already resigned in February. The S token fell approximately 5% following the announcements.

Elis has withdrawn its notification to the Competition and Consumer Protection Commission (CCPC) regarding its planned acquisition of OCL. The withdrawal signals a potential halt or restructuring of the deal, as regulatory filings are typically a prerequisite for completing such transactions. No further details on the rationale for the withdrawal or next steps were provided.