Iran Closes Strait of Hormuz, Oil Tankers Turned Around! UPDATED at 341 Pacific Time!
This is big as over 20% of the world’s oil supply flows through the Strait of Hormuz and it will definitely disrupt the energy markets when they open. Iran has also vowed revenge on the USA for attacking them yesterday but what form that revenge will take is up for debate. All of that and more are in today’s video blog.
UPDATE 341pm Pacific Time Massive GPS jamming has been unleashed in the Strait of Hormuz in recent hours, apparently by the Iranian armed forces, creating an electronic barrier that makes the passage and navigation of tankers and other ships difficult.
The situation seems to have become unbearable for safe navigation, with shipping companies now refusing to execute contracts.
The development means that the Straits will not be formally closed, but movement in the Gulf will become very difficult due to the disruption of their systems
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