Trending Show LIVE: Iran Closes Strait Of Hormuz, Global Oil Supply To Take Major Hit
Iran’s threat to shut the Strait of Hormuz in response to U.S. and Israeli strikes on its nuclear facilities has escalated global concerns. The strait, a critical oil transit chokepoint—handling about 20 million barrels daily, nearly 20% of global oil—remains open pending approval by Iran’s Supreme National Security Council. Analysts warn that even threats are disrupting shipping, pushing Brent crude prices toward $80 per barrel. Experts also note a full closure could backfire economically for Iran and prompt military responses from the U.S. Fifth Fleet and allies.
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