Tehran halts traffic through the key oil chokepoint following US military action, raising supply disruption risks for global markets.
Iran’s joint military command announced the closure of the Strait of Hormuz to all vessels, including oil tankers, until further notice. The move follows a new round of US airstrikes targeting Iranian-linked sites, escalating regional tensions.
The Strait of Hormuz is a critical transit route for roughly 20% of global oil supplies. Prior closures or threats have historically triggered price spikes, though alternative shipping routes exist. Analysts note this marks a significant escalation compared to past temporary restrictions.
Oil futures rose modestly in after-hours trading as traders assessed potential supply chain disruptions. No immediate rerouting plans have been confirmed by major shipping firms.