US-Israel Strikes on Iran Raise Tensions at Strait of Hormuz, Affecting Oil Shipments

Amid escalating US and Israeli strikes on Iran, several oil companies and vessels have suspended shipments through the Strait of Hormuz, a vital maritime chokepoint between Iran and Oman that handles about 20 million barrels of oil daily, roughly one-fifth of global consumption. Reports indicate Iran's Revolutionary Guards have transmitted warnings restricting passage, though official confirmation is pending. The strait's closure or disruption could significantly impact global energy markets, with limited alternative routes available and most shipments destined for Asian markets.