Iran has declared the Strait of Hormuz closed and warned that ships attempting to transit will face harsh measures. Multiple tankers have already turned back after IRGC threats, while nearly 1900 vessels are reported stranded near the world’s most critical oil chokepoint. The Strait of Hormuz carries about one-fifth of global oil supply, and any disruption could trigger a major energy shock, shipping crisis, and escalation in the Middle East.
