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The Strait of Hormuz Is a Vital Route for Oil. Closing It Could Backfire on Iran
- On Sunday, Iran's parliament voted to close the Strait of Hormuz, a vital passage linking the Persian Gulf to global oil markets, pending final approval.
- This decision follows recent U.S. attacks on Iranian nuclear sites and long-standing tensions, with Iran threatening blockade as a strategic response amid sanctions.
- The narrow strait carries about 20 million barrels daily, roughly one-fifth of global oil, and its closure would disrupt exports from multiple Gulf countries, raising global energy risks.
- U.S. Vice-President JD Vance called closing the strait 'economic suicide' for Iran, warning such an escalation would provoke international response and hurt Iran more than others.
- Experts agree Iran has much to lose including trade with major partners like China, and alternative oil routes are limited, suggesting a blockade could backfire economically and politically.
174 Articles
174 Articles
Oil City News
Wyoming oil positioned to weather Middle East conflict, analysts say
by Dustin Bleizeffer, WyoFile The global oil market’s reaction to rising conflict in the Middle East has been subdued, so far, as supplies remain flush and shipping routes mostly uninterrupted. That could change, however, if Iran makes good on a threat to shut off the Strait of Hormuz, according to energy analysts. The key petrol shipping route connects 25% of the world’s oil and about 20% of the world’s liquified natural gas from the Persian Gu…
Activist Post
HoweStreetThe Strait of Hormuz – Incoming Global Energy Crisis?
Supply chain constraints are inevitable during wartime. Shippers are actively avoiding the Strait of Hormuz that connects the Persian Gulf to the Arabian Sea amid the Iranian nuclear tensions. This is a significant disruption as around 20% of global oil is funneled through this passageway. Oman’s Musandam Peninsula hosts a narrow passageway with Iran that is only 30 miles wide but large enough for mass oil tankers to navigate. These strategic ro…
The road of Hormus is not the only needle's eye, whose blockade would endanger the world's oil and natural gas supply. SPIEGEL shows the most risky passages of the world's oceans.
No plans to close Strait of Hormuz, regional trade route protected, says Iran envoy
PETALING JAYA: Trade passage through the Strait of Hormuz will remain open and unaffected as Iran seeks to deepen its economic ties with Malaysia and Asean countries, says Iranian Ambassador to Malaysia Valiollah Mohammadi Nasrabadi. Read full story
The U.S. attack on Iranian nuclear facilities marked a setback to globalization, which, together with the US-imposed tariffs, set the tone for a complex scheme that seems to shape a new economic, political and social reality. Above all, what has been most affected is certainty for transnational investments, leaving in question the path of Nearshoring that so many expectations had raised in recent decades. President Trump’s policy has spurred geo…
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