The blocking of the Hormuz Strait by Iran caused a spike in oil prices

Наталья Маркова Politics
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The blockade of the Strait of Hormuz by Iran caused a spike in oil prices


Tehran has announced a temporary closure of the strategically important Strait of Hormuz, which is related to large-scale military exercises. According to information provided by the Associated Press, this is the first time Iran has officially notified the international community of a complete blockade of this vital waterway for live-fire exercises. Previously, Iranian drills were limited to warnings about navigation risks, without actual closure of the area.

The Strait of Hormuz is considered the "energy artery" of the world, through which about 20% of the world's oil consumption and a significant portion of liquefied natural gas (LNG) pass. Oil and gas sector analysts emphasize that any interference with shipping in this area immediately affects global prices. Against the backdrop of the closure news, the price of Brent crude oil on international markets has already shown a sharp increase.

The military exercises are taking place amid prolonged tensions in the region. Iran's command stated that the maneuvers are aimed at testing the readiness of missile and naval forces. In response, the U.S. Navy's Fifth Fleet, based in Bahrain, confirmed that it is closely monitoring the situation. Western military analysts emphasize that free passage through the strait is regulated by international law, and its closure creates a risky precedent for global security and world trade.
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