World jittery as Iran moves to block strait

It would choke off a vital energy lifeline that carries nearly $1b worth of oil daily

- BY JAY HILOTIN

The Strait of Hormuz — a narrow waterway that moves 20 per cent of the world’s oil — is once again at the centre of global tension.

Iran's parliament has approved a motion to shut down the strait, pending final clearance from the Supreme Council. If enforced, it would choke off a vital energy lifeline that carries nearly $1 billion worth of oil daily.

The move comes just hours after the US launched “Operation Midnight Hammer”, striking key Iranian nuclear sites at Fordow, Natanz, and Isfahan. In response, Iran vowed a “major escalation.” The tension has already spooked global oil markets, with Brent crude climbing above $77.

Asymmetric tactics