Iran May Close Strait of Hormuz Amid Heightened Tensions with Israel

TEHRAN, Iran — Iran is contemplating closing the Strait of Hormuz as tensions escalate with Israel, according to the Iranian news agency IRINN and conservative lawmaker Esmail Kosari. This strategic waterway is crucial for global oil trade, with about 20% of the world’s oil passing through it. Closing the strait would likely lead to a spike in oil prices and could further intensify ongoing conflicts.

The Strait of Hormuz, which is 33 kilometers wide at its narrowest point, is the only maritime entry into the Persian Gulf, forming a critical link between the Gulf of Oman and the Indian Ocean. Historical conflicts, including the Iran-Iraq War, have seen attempts to disrupt shipping routes, but Hormuz was never entirely closed.

In 2019, four ships near the strait were allegedly attacked, leading to heightened tensions between Iran and the United States. While such incidents raise concerns about shipping safety, recent reports indicate commercial traffic is currently flowing without interruption.

In light of ongoing military strikes by Israel targeting Iranian assets, including missile facilities and military leaders, Iran has retaliated with drone attacks. This escalation raises fears of a broader conflict that might threaten maritime trade in the region.

Market analysts are closely monitoring the situation, as disruptions in the Strait of Hormuz could drastically increase global oil prices. If Iran were to carry out a blockade, it could impact oil-exporting nations such as Saudi Arabia and the United Arab Emirates, pushing oil prices closer to $100 a barrel.

However, there are doubts about Iran’s ability or willingness to block the strait fully, considering the potential for swift U.S. military retaliation. The U.S. maintains a significant naval presence in the region and has stated it will protect key maritime routes.

Iran’s threats come amid the backdrop of ongoing conflict with Israel, with the Iranian military potentially viewing control over Hormuz as a strategic response in the face of strikes against its capabilities. As such, the possibility of Iran closing the Strait of Hormuz remains a serious concern for global economic stability.