Why Iran closing this 103-mile stretch of ocean could be catastrophic for the world

As tensions escalate between Israel and Iran, Tehran has been left shrouded in smoke following an Israeli airstrike on June 15, 2025. With Iran’s parliament considering closing the critical Strait of Hormuz, which transits about a fifth of the world’s oil, experts warn that such an action could trigger significant market turmoil, potentially raising oil prices from $71.77 to $120 per barrel.