AFBytes Daily Rundown — Thursday, June 11

Here's a look at the top stories making headlines today. According to ecns.cn, there have been clashes between Iranian and U.S. forces in the Gulf region. This comes after Iran announced the closure of the Strait of Hormuz to commercial traffic. AFBytes lens: Any closure of this vital waterway would sharply raise global oil prices and directly increase costs for U.S. drivers and manufacturers. Benzinga reports that President Trump has expressed skepticism about renewing the USMCA trade deal, citing large U.S. trade deficits with Canada. Analysts counter that Canada supplies over 60 percent of U.S. oil imports, highlighting the interdependence between the two nations. AFBytes lens: Reduced reliance on Canadian energy could push U.S. policy toward greater domestic production and supply security. RFE/L reports that Iran has announced a possible closure of the Strait of Hormuz following a second consecutive night of U.S.-Iran exchanges. AFBytes lens: Disruption in the Strait of Hormuz directly influences global oil prices and U.S. energy costs. That's the day from where we sit — thanks for spending part of it with us. Stay with us at AFBytes for what's next.