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1 revisions for "The Chokepoint War: Iran's Strait of Hormuz Blockade Sends Oil Markets Into Crisis as Three More Ships Are Hit"

Anonymous22 days ago

Iran has escalated its campaign against commercial shipping in the Persian Gulf, striking three more vessels on March 11 as the Islamic Revolutionary Guard Corps warned the world to "get ready for $200 oil." The effective closure of the Strait of Hormuz — through which 20% of the world's oil flows — has triggered the largest energy supply disruption since the 1970s, with crude prices surging above $100 a barrel and prompting the IEA to announce a record release of 400 million barrels from emergency reserves.