Oil Prices Soar as Strait of Hormuz Blockade Disrupts Global Energy Flows

Oil prices continue to skyrocket as the US Navy enforces a blockade of Iranian ports, crippling energy flows through the critical Strait of Hormuz. The blockade, implemented on Monday, aims to prevent the movement of oil in and out of Iran following the collapse of negotiations between US and Iranian officials. This sharp escalation comes amid the ongoing US-Israel conflict with Iran, which has devastated transit through the strait — a crucial maritime artery that channels around 20% of the worl