Middle East Conflict Escalates: Iran Closes Strait of Hormuz as Oil Spikes and US Bases Face Attacks

Geopolitical Crisis and Energy Market Shock - The Islamic Revolutionary Guard Corps (IRGC) has announced the effective closure of the Strait of Hormuz, threatening to target any ship attempting to pass through this critical maritime chokepoint [2] - Brent Crude futures surged by $4.87 to settle at $77.74 per barrel, while WTI Crude rose above $72, with analysts warning that a prolonged closure could push prices toward triple digits [3] Attacks on U.S. Bases and Diplomatic Evacuations - Iraqi armed groups have claimed responsibility for attacks on U.S. military bases in Kuwait, prompting the U.S. Embassy in Kuwait to issue a security alert [4] - The U.S. State Department has ordered the temporary departure of all embassy personnel from Jordan due to specific threats, amidst regional retaliations involving missiles and drones [5] Corporate Impact: Eli Lilly, Amazon, and Coinbase - Eli Lilly (LLY) announced that its oral weight-loss drug Orforglipron could reach the U.S. market as early as Q2 2026, pending FDA approval expected on April 10 [6] - Amazon (AMZN) has suspended e-commerce operations and closed fulfillment centers in Abu Dhabi due to disruptions caused by the regional conflict, impacting its logistics and cloud infrastructure [7] - Coinbase (COIN) has alerted users to potential latency and degraded performance when transacting via its onramp using Apple Pay, reflecting the broader operational disruptions in the market [8]