Oil Prices Could Soar After Iran Moves To Close Strait Of Hormuz

Oil Prices Could Soar After Iran Moves To Close Strait Of Hormuz

Oil Prices Could Soar After Iran Moves To Close Strait Of Hormuz

Iran’s parliament has voted to close the Strait of Hormuz, a narrow shipping channel that serves as a vital route for approximately 20% of the world’s daily oil supply. The measure awaits final approval by Iran’s Supreme Council, which must decide by the end of the day, according to Iran’s state-run Press TV.

 


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