The global energy market is on edge as tensions escalate around the strategically vital Strait of Hormuz following Iran’s blockade of the critical oil passage. The move came after military strikes linked to the United States and Israel, prompting Tehran to restrict access to the narrow waterway connecting the Persian Gulf with the Gulf of Oman. In response, U.S. President Donald Trump warned that Iran would face severe consequences if global oil supplies continued to be disrupted. The blockade has already pushed crude oil prices to nearly $120 per barrel for the first time in about four years, raising fears of a worldwide economic shock. The strategic passage handles a major share of global energy shipments, including crude oil, liquefied petroleum gas (LPG), and liquefied natural gas (LNG). Analysts say prolonged disruption could severely impact energy supply chains, particularly in Asia, which receives the majority of shipments through the route. Meanwhile, reports suggest Washington is examining possible strategic options around Kharg Island—Iran’s main oil export hub responsible for roughly 90 percent of its crude shipments. Energy industry leaders, including Amin Nasser of Saudi Aramco, warn that continued instability in the region could trigger one of the most severe disruptions the oil industry has faced in decades.
GLOBAL CRISIS: Iran’s Hormuz Blockade Sends Oil to $120 as Donald Trump Issues Warning
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