Iran moves to close the Strait of Hormuz, cutting off nearly 20% of the world’s oil supply.
As a vital chokepoint for global energy, this closure has triggered immediate naval activity and fears of a massive spike in oil prices.
World leaders are closely monitoring the economic and political fallout of this strategic move.
Global energy markets in shock as Iran shuts the Strait of Hormuz, a critical route for one-fifth of the world’s oil.