Iran Considers Closing Strategic Strait of Hormuz

The conflict in the Middle East threatens to destabilize the global economy. Iran is contemplating the closure of the strategic Strait of Hormuz. This was reported by local parliament member General Kosari.

The strait, located between Oman and Iran, is one of the most vital gateways in the world for oil transportation. Tehran’s potential closure of this passage would impact oil prices. Experts warn that energy resource costs could soar to $100 per barrel.