In less than 36 hours since the blockade was implemented, U.S. forces have completely halted economic trade going into and out of Iran by sea. This blockade has effectively brought Iran's economy to a standstill, as it relies heavily on international maritime trade.
Markets reacted to energy security risks as tensions in the oil-rich region threaten the infrastructure and the flow of oil tankers and LNG carriers through the Strait of Hormuz. The shipments via the waterway represent a significant portion of the world's oil and LNG supplies.