A high-ranking representative of Iran's Islamic Revolutionary Guard Corps, Ibrahim Jabari, announced the closure of the Strait of Hormuz.
Modern.az reports that Iranian media has disseminated information about this.
“The strait is closed, and if anyone attempts to pass, the heroes of the Revolutionary Guard and the regular navy will burn those ships,” he stated.
Following this statement, sharp fluctuations were recorded in global energy markets. Futures for “Brent” crude oil rose by up to 13% during the day, reaching $82.37 per barrel, which was the highest indicator since January 2025. Later, the price settled at $77.74, with an increase of $4.87 or 6.7%. Meanwhile, US “West Texas Intermediate” (WTI) crude oil closed at $71.23, having increased by $4.21 or 6.3%, and rose to $75.33 during the day.
Analysts state that a real closure of the Strait of Hormuz or a long-term military escalation could deal a serious blow to the global supply chain. A significant portion of global oil exports is carried out precisely through this route, and a halt in shipments could lead to a sharp decrease in market supply.
A number of economists believe that if the conflict prolongs and energy infrastructure becomes a target, oil prices could rise to $200. This scenario could accelerate global inflation, increase production and transportation costs, and weaken global economic growth. Currently, markets are closely monitoring the development of events in the region.
