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U.S. Military Begins Intercepting Ships in the Strait of Hormuz
The United States military has begun intercepting ships transiting the Strait of Hormuz, state broadcaster CCTV reported, marking a significant escalation in the Persian Gulf crisis. The intercepts come days after the Trump administration announced plans to form a multinational "Hormuz Alliance" to reopen the strait, which Iran has been using to selectively block oil exports from Gulf states while permitting tankers carrying Iranian crude to pass freely. The Strait of Hormuz is one of the world's most critical energy chokepoints, with roughly 20% of global oil supply passing through the waterway. Any sustained disruption to shipping traffic carries significant implications for global oil prices and broader risk asset markets, including crypto.
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