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Strait of Hormuz Blockade Cuts Tanker Traffic

New York Times Business •
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The Strait of Hormuz saw very few ships pass through on the first full day of the U.S. naval blockade of Iran, marking a sharp escalation in the disruption of global oil supply routes.

The blockade, aimed at pressuring Iran over its nuclear program and regional activities, has effectively choked off the critical chokepoint where roughly 20% of the world's petroleum normally transits. Shipping data shows a near-total halt in tanker traffic, with major energy firms rerouting vessels around the Cape of Good Hope.

Oil prices surged immediately, with Brent crude jumping over $5 per barrel as markets priced in prolonged supply constraints. Analysts warn that sustained closure could trigger a global energy crisis, particularly for Asian importers heavily reliant on Middle Eastern crude. Diplomatic efforts to de-escalate remain stalled.