Tehran weighs closing Strait of Hormuz
Nearly one-fifth of traded crude passes through the waterway.
Iran is seriously considering closing the Strait of Hormuz, a vital waterway for global oil shipments, according to a report by Iranian state broadcaster IRINN.
The Strait of Hormuz, which lies between Iran and Oman, is the world’s most critical maritime chokepoint for oil transport. About 20 million barrels of oil and petroleum products, roughly one-fifth of global oil trade, pass through the strait each day, linking the Persian Gulf with the Arabian Sea.
The report cited Ismail Kosari, a member of the Iranian Parliament’s Security and Defense Committee, who said the move is under serious review.
Any disruption to traffic in the strait could send shockwaves through global energy markets.
