🇮🇷 Iran’s Parliament Moves to Close Strait of Hormuz—A Major Threat to Global Oil Supply

In a bold escalation, Iran’s parliament has voted to close the Strait of Hormuz, the narrow waterway that handles nearly 20% of global oil trade. The move comes as retaliation following recent U.S. airstrikes on Iranian nuclear facilities in Fordow, Natanz, and Isfahan. Although the vote is non-binding, it signals growing tensions and now awaits review by Iran’s Supreme National Security Council.

Global markets are already reacting. Brent crude has jumped over 10% this month, currently trading around $77 per barrel. Analysts warn that a full closure could push prices above $100, with some worst-case scenarios predicting spikes up to $150. Major Asian economies like China, India, and Japan—heavily dependent on Gulf oil—would be the hardest hit.

The U.S. and its allies have issued strong warnings, calling any blockade an act of “economic suicide” for Iran and promising a swift response. Iran’s own trade partners, including China, are urging restraint. With the Supreme Council’s decision expected soon, the coming days could mark a turning point for global energy markets and geopolitical stability.#IsraelIranConflict