Live updates: Iranian leader vows Strait of Hormuz will stay closed; US stresses ‘short-term’ oil price spike

In his first statement, Iran’s new supreme leader said Thursday morning, “The Strait of Hormuz must remain closed. American bases in the Middle East must be closed. Iran’s other military and regional capabilities will be activated if necessary.” The Ayatollah Mojtaba Khamenei’s statement was read on Iranian state media. Oil prices seesawed overnight on fears…