The Latest: Iran's supreme leader says closure of Strait of Hormuz should be used as leverage

Iran’s new supreme leader says the country should use the threat of closing the Strait of Hormuz as leverage, and has vowed to keep attacking Iran's Gulf Arab neighbors. On Thursday, an anchor on Iranian state TV read the first statement from Ayatollah Mojtaba Khamenei since he became supreme leader. Khamenei did not appear on camera, and an Israeli assessment indicates he was wounded in the war’s opening salvo. Oil prices have spiked above $100 as Iranian strikes keep hitting ships, and the Strait of Hormuz remains effectively closed because of those attacks. The Pentagon says the first week of war cost the United States $11.3 billion.