Iran Blocks Strait of Hormuz – Global Oil Crisis Has Begun?

Описание: The Strait of Hormuz, a narrow waterway between Iran and Oman, is one of the most strategic oil routes in the world. Nearly 20% of global oil supply passes through it daily, including oil from Saudi Arabia, Iraq, Kuwait, and the UAE heading to markets in Asia, Europe, and the United States. With Iran blocking the Strait of Hormuz due to rising tensions, global oil supply could drop sharply, causing prices to skyrocket, fuel and transportation costs to rise, and economic instability worldwide. In this video, we explain why the Strait of Hormuz is so important, how this blockade affects global energy markets, and what could happen next in this growing Middle East conflict.#OilCrisis
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Gulf oil and gas producers are warning that exports could be cut off within weeks if the conflict with Iran continues. Qatar has said repeated Iranian strikes on the region's oil refineries and tankers risk causing a global shortage and serious damage to the global economy.

It came as the US and Israel continued their bombardment of Iran. The Israel Defence Force said it hit 400 targets inside Iran on the seventh day of the war. The Iranian Red Crescent said more than a thousand people have been killed in Iran.

Iran has continued to retaliate, with its latest strikes by missiles and drones aimed at the UAE, Dubai and Israel.

The UN Secretary General, Antonio Guterrez, has condemned all the violence, saying it's "time to stop the fighting." Donald Trump has warned that only Iran's "unconditional surrender" will bring it to an end.

Israel is also continuing a heavy assault in southern Lebanon, where it says it's targeting the Hezbollah militia group. Thousands of people have fled their homes.

Clive Myrie and Anna Foster presents BBC News at Ten reporting by Lyse Doucet, Sarah Smith, Faisal Islam, Nick Beake, Wyre Davies and Lucy Williamson.

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Iran War: Oil price shock warning as Gulf states say exports may be cut off | BBC News

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