Shipping Stalls in Strait of Hormuz After Iran Declares Closure
Shipping through the strategically vital Strait of Hormuz stalled over the weekend after Iran announced it had closed the key oil chokepoint, according to maritime intelligence firm Windward. The closure disrupts a route that handles around 20% of global oil traffic and follows recent efforts by U.S.-Iran negotiations aimed at ending hostilities.
Topics: international relations iran oil trade shipping strait of hormuz