Iran hardens stance: Strait of Hormuz closure, talks blocked until US accepts 7 conditions

INTELLIGENCE SUMMARY

Oil climbed to session highs after Iran's security chief hardened Tehran's position, with Iran repeating that the Strait of Hormuz stays closed and talks will not resume until Washington accepts its seven conditions. Brent rose 2.3% to $101.49 and WTI gained 1.7% to $92.09.