US EditionWhat does the US blockade of Iran shipping mean for gas prices?
The move could cut about 2 million barrels a day from markets as analysts warn of further price increases.
- On Monday, the United States Navy began blocking shipping traffic in and out of Iranian ports starting at 10 a.m. ET, aiming to prevent roughly 2 million barrels of Iranian oil daily from entering global markets.
- Trump ordered the blockade following failed peace negotiations in Islamabad between the United States and Iran, as shipping traffic through the Strait of Hormuz has remained nearly halted since the war began.
- United States Central Command clarified that the blockade applies exclusively to vessels bound for or departing from Iran, while freedom of navigation for ships transiting the Strait of Hormuz to non-Iranian ports remains unaffected.
- Blocking these shipments removes a significant source of oil from global markets; Iran exported 1.84 million barrels per day in March, with more than 180 million barrels floating on ships as of earlier this month.
- Retired Admiral Gary Roughead, a former chief of United States naval operations, cautioned that Iran could retaliate by firing on vessels in the Gulf or attacking infrastructure belonging to Gulf states hosting American forces.
15 Articles
15 Articles
What does a US naval blockade of Iran mean for oil flows?
The U.S. military began blocking shipping traffic in and out of Iran's ports, a move that would prevent roughly two million barrels of Iranian oil a day from entering the world's markets, further tightening global supply.
What a US naval blockade of Iran means for oil flows
The U.S. military said it would block shipping traffic in and out of Iran's ports starting at 10 a.m. ET (1400 GMT) on Monday, a move that would prevent roughly two million barrels of Iranian...
What does the US blockade of Iran shipping mean for gas prices? - Regional Media News
(NEW YORK) - The United States continued to mount a naval blockade of Iranian ports in the Strait of Hormuz on Thursday, exerting financial pressure on Tehran while at the same time choking off a source of oil amid a historic global shortage. The move comes as Americans grapple with a surge in gasoline prices that threatens to eat away at household budgets and slow the economy. Gasoline prices in the U.S. registered at $4.10 on average per gallo…
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