Tehran shuts critical oil chokepoint following accusations of US and Israeli ceasefire breaches in Lebanon.
Iran has closed the Strait of Hormuz, a key global oil transit route, after accusing the US and Israel of violating a ceasefire. The move follows reported Israeli strikes in Lebanon, prompting the Iranian Revolutionary Guard Corps Navy to warn vessels against approaching the strait.
The Strait of Hormuz handles roughly 20% of global oil supplies, making it a critical chokepoint for energy markets. No prior closure has been reported in recent years, though tensions have periodically flared in the region. The last major disruption occurred in 2019 amid US-Iran military escalations.
Markets have not yet reacted, but oil prices are expected to respond swiftly if the closure persists.