Iran closes key Strait of Hormuz shipping route after ayatollah threatens to sink US warships - The strategic waterway has not been shut since the 1980s. The move comes amid ongoing tensions with the

It was the first time Iran has announced the closure of the key international waterway, through which 20% of the world's oil passes, since the U.S. began threatening Iran and rushing military assets to the region.

The live-fire naval drills are a signal from Iran of the potential fallout to the world economy if the US goes through with threats to attack it, as tensions mount between the two countries.

A fifth of global oil flows through the Strait of Hormuz. Here’s why its closure is shaking energy and shipping markets.

The Iran war is renewing concerns about the strategically vital Strait of Hormuz. A prolonged closure could sharply drive up oil prices, experts said.

Fearing the supply disruption, Brent crude climbed to $78.55 per barrel, up 7.8% from $72.87 The Strait of Hormuz is crucial as about 20% of global oil supply,that is around 15 million barrels per day, pass through it.

The Strait of Hormuz is the narrow mouth of the Persian Gulf through which about a fifth of the world's oil passes.

Attacks by the U.S. and Israel on Iran, and Iranian missile and drone attacks on neighboring countries, have disrupted oil and gas supplies to the rest of the world — and dealt an energy price

Amid the war in the Middle East, Iran has been targeting key energy infrastructure across the region. Tehran is also threatening energy exporters, warning that tankers entering the Strait of Hormuz — a narrow,