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

Iranian Admiral Tangsiri says decision rests with Tehran’s leadership, highlights 24-hour intelligence control over strategic waterway

Iran said it temporarily closed the Strait of Hormuz, the narrow mouth of the Persian Gulf, as it conducted live fire exercises in the vital waterway, through which 20% of the world's oil passes.

Oil prices jumped as the widening conflict in Iran disrupted tanker traffic through the Strait of Hormuz. Here's a closer look at the vital trade route. (AP Photo)

Supply chains rely on predictability. The persistent geopolitical uncertainty has complicated operations worldwide. Limited alternatives make the de facto closure of the strait of Hormuz all the more impactful. The longer the disruption persists, the more significant and structural the economic damage will become.

A drone that attacked the grounds of the US consulate in Dubai hit a “parking lot adjacent to the chancellery building,” according to US Secretary of State Marco Rubio. All personnel were accounted for,

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,

The Strait of Hormuz is the narrow mouth of the Persian Gulf through which about a fifth of the world’s oil passes. Tankers traveling through the strait, which is bordered in the north by Iran, carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE and Iran. Most of that oil goes to Asia.