Iran threatens to shut down Strait of Hormuz after US strikes | LiveNOW from FOX
The world is anticipating what comes next after the U.S. inserted itself into the war between Israel and Iran Saturday with a surprise attack on three of Iran’s nuclear sites.Many are suggesting that Iran’s next move could involve a disruption at the Strait of Hormuz, an international transit route.
The Strait of Hormuz is the narrow mouth of the Persian Gulf that flows into the Gulf of Oman, where ships can then travel to the rest of the world.
The Strait is in the territorial waters of Iran and Oman.
At its narrowest point, it is just 21 miles wide. The width of the shipping lane in either direction is only 2 miles wide.
Some 20% of all oil traded globally passes through the strait, according to The Associated Press.
Anything affecting the strait ripples through global energy markets, raising the price of crude oil. That then trickles down to consumers through what they pay for gasoline and other oil products.
Oil prices have already increased as the war between Israel and Iran has intensified, climbing by 21% over the past month.
Iran has threatened before to close off the strait amid tensions with the U.S., and the disruption could be one way Iran retaliates after the U.S. bombed three of its nuclear sites on Saturday.
As of Sunday afternoon, several outlets had begun reporting that Iran’s parliament had endorsed closing off the passageway.
In a lesser move, Iran could cause a short-term blockage in the strait with its fleet of fast-attack boats and thousands of naval mines. It could also fire missiles from its long Persian Gulf shore.
Any blockage would surely cause a fast-moving response from the U.S., which has its superior 5th Fleet stationed nearby in Bahrain.
But even a relatively brief interruption could paralyze shipping traffic and spook investors, causing oil prices to spike and generating international pressure for a ceasefire.
Captain John Konrad V, CEO of gCaptain, joins LiveNOW's Andy Mac to discuss.
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