"In his first official message since succeeding his father, Ayatollah Ali Khamenei, the 56-year-old cleric stated on state television that the strait should remain closed to apply pressure on Iran's adversaries and demanded the shutdown of all U.S. military bases in the region, according to Reuters."
"Iran's Revolutionary Guards and military commanders have repeatedly indicated that vessels associated with the United States, Israel, or their allies could be seen as legitimate targets in the conflict, raising concerns about the safety of future commercial traffic through this crucial chokepoint, which handles about 20% of global oil and gas shipments."
"This disruption has helped push crude oil prices back above $100 a barrel, reflecting market concerns over potential long-term disruptions and broader energy supply risks."
Ayatollah Mojtaba Khamenei, Iran's newly appointed supreme leader, has declared Tehran's commitment to maintaining control over the Strait of Hormuz, the world's most critical oil shipping route. In his first official message, delivered via state television, he demanded the closure of all U.S. military bases in the region as part of Iran's confrontation with the United States and Israel. Recent incidents include multiple ships struck by unidentified projectiles near the strait, forcing crew evacuations. Iran's Revolutionary Guards have indicated that vessels associated with the U.S., Israel, or their allies may be targeted. These disruptions have pushed crude oil prices above $100 per barrel, reflecting concerns over potential long-term energy supply disruptions affecting approximately 20% of global oil and gas shipments.
Read at London Business News | Londonlovesbusiness.com
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