The Strait of Hormuz remains closed with Iran restricting access and preventing energy flows to global markets, the head of the biggest oil producer in the United Arab Emirates said. Tehran says transits must be under its supervision. UAE oil executives warn this could disrupt global energy markets significantly.

This development comes amid heightened tensions in the region, with Iran asserting control over one of the world's most critical maritime chokepoints. The strait handles roughly 20% of global oil shipments, making any disruption potentially devastating for energy prices. Saudi Arabia and other Gulf producers are particularly vulnerable to such blockages.

The closure threatens to send oil prices soaring and could trigger broader economic consequences. Energy analysts note that while Iran's actions may be politically motivated, the practical impact on international trade could be severe. The situation underscores the fragility of global energy security and the strategic importance of Middle Eastern waterways.