Iran’s order to close the Strait of Hormuz lifts WTI crude to $91.00, up 1.03% after US military action.
The US military conducted strikes on multiple Iranian targets Wednesday, citing self-defense in response to Tehran’s ongoing aggression. The operation followed President Trump’s warning of a forceful response amid stalled negotiations to end the conflict.
Iran’s joint military command announced the closure of the Strait of Hormuz, blocking all vessel passage, including oil tankers and commercial ships. The move escalates tensions in a critical oil transit route, historically sensitive to supply disruptions.
Crude markets reacted swiftly, with West Texas Intermediate (WTI) rising 1.03% to $91.00. The gain reflects concerns over potential supply constraints in a region accounting for roughly 20% of global oil flows.