New equation of Hormuz Strait is in process of being solidified: Iran's parliament speaker

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New equation of Hormuz Strait is in process of being solidified: Iran's parliament speaker

2026-05-05 17:15 Last Updated At：21:57

The new equation of the Strait of Hormuz is in the process of being solidified, said Iranian Parliament speaker Mohammad Bagher Ghalibaf on Tuesday.

In a post on social media platform X, Ghalibaf published that the security of shipping and energy transit have been jeopardized by the U.S. and its allies by violating the ceasefire and imposing blockades.

He also said that the continuation of the status quo is intolerable for the U.S., while Iran has not even begun yet.

U.S. President Donald Trump said Sunday that the U.S. would begin guiding ships out of the Strait of Hormuz on Monday morning, describing the move, named Project Freedom, as a "humanitarian gesture."

Gold, silver prices drop sharply

International gold and silver prices dropped steeply on Monday as surging crude oil futures strained market liquidity, while a stronger U.S. dollar and rising 10-year treasury yields added further pressure on precious metals.

Gold futures for June delivery on the New York Mercantile Exchange fell 2.39 percent to 4,828.8 U.S. dollars per ounce, while silver futures for July delivery settled at 73.522 dollars per ounce, down 3.81 percent.