Events Archive
economicMay 5, 2026
Shutting Iran’s oil wells may be straightforward – but the consequences are not
Summary
The Strait of Hormuz – the narrow waterway through which between 20% and 25% of the world’s seaborne oil normally passes – has been been effectively closed for just over two months.
Actors involved
USIran
Sources
- Martin J Blunt; Nima ShokriBy Martin J Blunt; Nima Shokri
The Strait of Hormuz – the narrow waterway through which between 20% and 25% of the world’s seaborne oil normally passes – has been been effectively closed for just over two months. As tensions have escalated, Iran has restricted passage through the Strait, while the US has impos…
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