Iran Declares Strait of Hormuz Closed, Raising Stakes for Global Oil Route

On July 11, 2026, Iran declared the Strait of Hormuz closed in retaliation for US strikes, per Reuters. The chokepoint handles roughly one-fifth of global seaborne oil. UKMTO has documented projectile strikes on vessels there every advisory cycle since March. The declaration and sustained attacks pressure war-risk premiums, freight rates, and energy supply chains.