Strait of Hormuz Closure: The Global Oil Shock You Can't Ignore

Tehran, Saturday, 20 June 2026.
Iran’s sudden closure of the Strait of Hormuz—handling 20% of global oil—has sent shockwaves through energy markets. With 80 naval mines blocking the route and 20,000 seafarers stranded, experts warn of a months-long crisis. Oil prices could spike as tankers reroute via Africa, adding 16 days to voyages. The U.S.-Iran deal offers temporary relief, but tolls and governance disputes loom. This isn’t just a regional conflict—it’s a threat to global supply chains and economies.