Algerian Radio
Iran’s Mehr News Agency reported that Iran has closed the Strait of Hormuz, a move expected to paralyze maritime traffic through the passage—particularly oil and gas tankers. More than 20 million barrels of oil transit the strait daily, along with large quantities of liquefied natural gas (LNG). The closure is also expected to disrupt supply and logistics chains, as over 11% of global trade passes through the strait.
If the Strait of Hormuz remains closed for an extended period, oil and gas prices are also expected to surge to record highs, which could in turn drive a sharp increase in the prices of goods and commodities worldwide.
Earlier, the UK Maritime Trade Operations (UKMTO) said on Saturday it had received multiple reports from vessels in the Gulf indicating they had received messages about the closure of the Strait of Hormuz.
The Strait of Hormuz is the world’s most important corridor for oil exports, linking major Gulf oil producers—such as Saudi Arabia, Iran, Iraq, and the United Arab Emirates to the Gulf of Oman and the Arabian Sea.
