🇮🇷 Iran has officially closed the Strait of Hormuz.
And warned that any ship attempting to pass through will be set on fire. This isn’t just another headline. The Strait of Hormuz is one of the most important chokepoints on Earth. It’s a narrow stretch of water just 21 miles wide at its tightest point sitting between the Persian Gulf and the Gulf of Oman. And every single day, roughly 20% of the world’s oil supply passes through it. That’s one in every five barrels of oil consumed globally. For decades, Hormuz has been a pressure point in global politics. During the 1980s Iran-Iraq “Tanker War,” oil tankers were attacked here. The U.S. Navy escorted ships to keep the oil flowing. Since then, threats to close the strait have surfaced whenever tensions spike. Because everyone understands the leverage. Shut it down and oil prices surge. Insurance rates spike. Shipping routes freeze. Global markets react within minutes. Entire economies feel it within days. A strip of water barely wider than a city. But powerful enough to shake the world economy. And now, it’s closed.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
🇮🇷 Iran has officially closed the Strait of Hormuz.
And warned that any ship attempting to pass through will be set on fire.
This isn’t just another headline.
The Strait of Hormuz is one of the most important chokepoints on Earth.
It’s a narrow stretch of water just 21 miles wide at its tightest point sitting between the Persian Gulf and the Gulf of Oman.
And every single day, roughly 20% of the world’s oil supply passes through it.
That’s one in every five barrels of oil consumed globally.
For decades, Hormuz has been a pressure point in global politics.
During the 1980s Iran-Iraq “Tanker War,” oil tankers were attacked here. The U.S. Navy escorted ships to keep the oil flowing.
Since then, threats to close the strait have surfaced whenever tensions spike.
Because everyone understands the leverage.
Shut it down and oil prices surge.
Insurance rates spike.
Shipping routes freeze.
Global markets react within minutes.
Entire economies feel it within days.
A strip of water barely wider than a city.
But powerful enough to shake the world economy.
And now, it’s closed.