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2026March › 11

Strait

4 months ago

Strait of Hormuz, key transit passage for global oil trade, has been effectively shut down by Islamic Revolutionary Guard

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French President Emmanuel Macron also said he had "no confirmation" Iran was laying sea mines in the Strait of Hormuz.
The Iran conflict is disrupting fertilizer shipments through the Strait of Hormuz, raising supply concerns and potentially increasing global food inflation.
The cause of attacks on the commercial vessels in the strait - a vital corridor for oil - is being investigated.
President Donald Trump said oil companies should send tankers through the Strait of Hormuz, which has remained effectively closed due to the war on Iran.
Warning comes as 400 million barrels of oil are being released from global reserves during waterway's closure.
A Strait of Hormuz closure due to U.S.-Iran war hit the oil market hard, but sectors reliant on shipping across economy from metals to farming are vulnerable.
The Iran war has triggered the biggest oil disruption in history, as tankers are unwilling to transit the Strait of Hormuz because they fear attacks.
Iran has warned the world to prepare for oil to hit $200 a barrel, after it attacked three cargo ships in the Strait of Hormuz.
Traffic through the passage that carries roughly a fifth of global oil supply has sharply declined as shipping companies reroute vessels and insurers tighten coverage.

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