Strait of Hormuz Closure by Iran Sends Oil Prices Soaring
Iran has ordered the closure of the Strait of Hormuz, a critical chokepoint for nearly 20% of global oil and 25% of Liquefied natural gas (LNG) trade, following U.S. airstrikes on its nuclear facilities. This move, approved by Iran’s parliament, risks severe disruptions to energy markets, with india and South ASEAN nations facing significant consequences….