Iran claims it will fully close the Strait of Hormuz, a key global oil shipping route, and says it’s because of Israeli actions in Lebanon.
Why it matters:
If that really happens, oil supply could get disrupted badly, which may push oil prices higher and shake global markets next week.
Main takeaway:
This is a warning that Middle East tensions are escalating, and that this could trigger a big oil market reaction if the closure actually happens.#NFA #DYOR#StraitOfHormz #HormuzStraitClosedNoShipsTransiting Iran$6BFrozenFundsToBeReturned$XPIN
XPIN
Alpha
0.0013084
+0.63%
SIREN
Alpha
0.040033
+5.29%
KIN
Alpha
0.0028982
+1.35%