The Guardians of the Revolution, an Iranian paramilitary militia, announced on Saturday, February 28, that the Strait of Hormuz is effectively closed. This strategic route is the world’s primary corridor for oil transportation: approximately 17 million barrels of crude oil and condensates passed through it each day in 2025. The announcement came just hours after…...
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USA-Iran War: Closure of the Strait of Hormuz and Risks of Soaring Oil Prices
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