Iran Closes Strait of Hormuz, Threatening a Fifth of Seaborne Oil

Iran declared the Strait of Hormuz closed on July 11, 2026, per Reuters, retaliating for US strikes. The chokepoint moves roughly one-fifth of global seaborne oil. UKMTO has reported projectile strikes on vessels there every advisory cycle since March. The closure and sustained attacks push up war-risk insurance premiums, freight rates, and strain energy supply chains.