Reported 1 day ago
Iran's parliament has urged the closure of the Strait of Hormuz, a vital waterway for global oil and gas, following a US military strike on its nuclear sites. While the final decision rests with Iran's Supreme National Security Council, analysts express skepticism about actual closure due to its detrimental impact on Iran's own economy and oil exports. Immediate concerns include rising oil prices and potential disruptions in global supply. Economists warn that a blockage could lead to significant economic repercussions worldwide, impacting both oil prices and inflation.
Source: YAHOO