Iran’s parliament has voted to close the Strait of Hormuz, the vital shipping channel through which around 20% of the world’s daily oil flows.
The move, which could block $1 billion in oil shipments per day, is likely to send oil prices soaring.
It will come into effect pending a final decision by Iran’s Supreme Council.
The strait connecting the Gulf of Oman with the Persian Gulf is one of the world’s most critical chokepoints — just 20 miles wide at its narrowest point.
Shipping lanes in the strait — the area that is deep enough for ships to pass — are even narrower at less than two miles wide in each direction, making them much more vulnerable to attacks and threats of closure.
Per the New York Post:
Iran’s parliament has voted to close the Strait of Hormuz, the vital shipping channel through which around 20% of the world’s daily oil flows.
The move, which could block $1 billion in oil shipments per day, is likely to send oil prices soaring.
It will come into effect pending a final decision by Iran’s Supreme Council.
The strait connecting the Gulf of Oman with the Persian Gulf is one of the world’s most critical chokepoints — just 20 miles wide at its narrowest point.
Shipping lanes in the strait — the area that is deep enough for ships to pass — are even narrower at less than two miles wide in each direction, making them much more vulnerable to attacks and threats of closure.