economy
Energy Secretary Says U.S. Has Ended Iran's Ability to Close Strait of Hormuz
Some 72 ships loaded with 19 million barrels of oil have passed through Hormuz in the past 24 hours, Energy Secretary Chris Wright said.
TL;DR
- U.S. military escorts have ended Iran's ability to close the Strait of Hormuz.
- 17 million barrels of oil passed through the strait when Iran declared it closed.
- Approximately 72 ships carrying 19 million barrels of oil passed through Hormuz in the last 24 hours.
- The U.S. could reimpose its naval blockade if Iran does not meet Washington's demands.
- The U.S. waiving sanctions on Iranian oil sales for 60 days is not seen as a significant win for Iran.
- Iran began attacking commercial ships after U.S. and Israeli airstrikes on February 28th.
- Ship traffic through the strait plunged previously, causing the biggest oil supply disruption in history.
- Iran has agreed to allow ships passage for 60 days without tolls under a recent agreement.
- The future governance of Hormuz after the 60-day period is unclear, with Iran expected to discuss it with Oman and its Gulf neighbors.