Today's Top 3 News: Iranian Parliament Approves Closing of Hormuz Strait Following U.S. Attack

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TEMPO.CO, Jakarta - Tempo English compiled the top 3 news on Monday, June 23, 2025. Here are the highlights: Iranian Parliament Approves Closing of Hormuz Strait Following U.S. Attack; Arcandra Tahar: Israel-Iran War Triggers Global Oil Price Surge; Gold Prices May Face Further Correction Amid Iran-Israel Tensions.

The following is the list of the top 3 news on Tempo English today:

1. Iranian Parliament Approves Closing of Hormuz Strait Following U.S. Attack

The Iranian parliament on Sunday, June 22, 2025, approved the closure of the Strait of Hormuz, according to Al Arabiya, citing Press TV. Iranian state media further reported that the country's highest security body must finalize this decision.

The Strait of Hormuz is a strategic shipping lane through which approximately one-fifth of the world's oil passes, as reported by Mintnews.

Iran has long threatened to close the Strait of Hormuz. Hossein Shariatmadari, a representative of Iran's Supreme Leader Ali Khamenei, reportedly called for immediate retaliation for Saturday night's US attack, including closing the Strait of Hormuz to American, British, German, and French ships.

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2. Arcandra Tahar: Israel-Iran War Triggers Global Oil Price Surge

Tensions in the Middle East have once again rocked the global energy market. On June 13, 2025, Israel struck Iran, triggering a sharp jump in global oil prices. Crude rose to US$75 per barrel, the highest level recorded so far this year.

According to former Minister of Energy and Mineral Resources Arcandra Tahar, the price spike is driven by how oil-producing countries in the region perceive the geopolitical risks surrounding the conflict between Israel and Iran.

According to Arcandra, the geopolitical factor shapes market perception in times of political uncertainty. In his view, price shocks like this cannot be understood solely through the lens of supply and demand.

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3. Gold Prices May Face Further Correction Amid Iran-Israel Tensions

Currency analyst at Doo Financial Futures, Lukman Leong, projects that the world gold price still has the potential to correct or decrease, albeit limited. This is related to the current geopolitical tension and trade war.

According to Lukman, two main short-term factors are currently decisive in determining the direction of the world gold price, namely the development of the Iran-Israeli geopolitical situation and reciprocal tariffs from the United States.

"Both are still full of uncertainty and could suppress the gold price if the situation improves," Lukman told Tempo, cited on Sunday, June 22, 2025.

According to him, at the moment, investors tend to take a wait-and-see approach. On the other hand, some choose to take advantage of the possibility of a U.S.-Iran nuclear deal and a reciprocal tariff agreement with the U.S.

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