Home News BREAKING: IRANIAN PARLIAMENT APPROVES THE CLOSURE OF THE E…See more

BREAKING: IRANIAN PARLIAMENT APPROVES THE CLOSURE OF THE E…See more

News admin1 · February 28, 2026 · 0 Comment

Iran’s parliament has raised the possibility of closing the Strait of Hormuz, a narrow waterway just about 34 kilometers wide that serves as one of the most critical energy corridors in the world. Roughly 20–30% of global oil shipments and about one-third of liquefied natural gas (LNG) pass through this route, making it a central artery of international trade. If Iran were to block the strait, the consequences could be immediate and far-reaching. Global oil prices would likely surge due to disrupted supply, increasing fuel costs worldwide. Financial markets could react sharply, and energy-dependent economies might face inflation, supply shortages,... Continues…