Oil prices are on the rise on Tuesday as Iran partially closed the Strait of Hormuz, a critical shipping path, to conduct military drills.

Iran has temporarily closed parts of the Strait of Hormuz, the world's most critical oil transit chokepoint, for a few hours today as its naval forces conduct a military drill featuring advanced armed drones.

Representatives from the two nations are set to meet in Geneva on Tuesday, local time, as US President Donald Trump tries to curb Tehran's nuclear program.

Temporary closure of parts of the Strait of Hormuz, through which 20% of the world's oil passes, comes as US and Islamic Republic hold nuclear talks and their leaders exchange threats

Iran has temporarily closed parts of the Strait of Hormuz during military drills, signaling potential economic repercussions amid rising tensions with the U.S.

The Collective Security Treaty Organization (CSTO) has planned eight multinational exercises across Belarus, Russia, Kazakhstan, and Tajikistan, as pa