Iran's actions threaten Strait of Hormuz oil flow, US responds

Iran has effectively closed the Strait of Hormuz, a critical waterway for global oil supply, following recent strikes. Reports indicate Iran is laying mines in the strait, with the new supreme leader stating it should remain closed. Attacks have nearly halted oil flow as commercial ships fear missiles, drones, and mines. Concerns are rising over potential global oil price increases, described as the “largest oil disruption in history,” as roughly 20% of the world’s oil passes through the strait. While some Chinese tankers have reportedly passed through, suggesting not all passage is blocked, the US previously struck 28 Iranian mine-laying vessels. The US Navy is preparing to potentially escort tankers through the Strait of Hormuz, possibly by the end of March, to ensure safe passage. President Trump stated the US benefits from higher oil prices amid the disruption.