Iran Shuts Strait of Hormuz; U.S. Announces Counter-Blockade on Iranian Ports

Iran declared the Strait of Hormuz closed to shipping — the narrow Persian Gulf chokepoint carrying roughly a fifth of global daily oil supply. The U.S. responded by announcing a blockade on all ship traffic to or from Iranian ports. Enforcement mechanisms for both measures remain unclear. Crude oil stands at approximately $81 per barrel; U.S. diesel has surpassed $5 per gallon.