
Following joint US and Israeli strikes on Iran, Tehran's Revolutionary Guards have reportedly declared the closure of the Strait of Hormuz, a vital maritime chokepoint through which about 20 million barrels of oil and significant LNG volumes pass daily. Several oil majors and traders have suspended shipments amid rising tensions, while vessel traffic has slowed but not fully stopped. The strait's closure could disrupt global energy supplies, especially to Asian markets, prompting increased security measures and contingency plans by regional producers.
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