After US Strikes, Iran Plans To Close Oil Corridor Strait Of Hormuz: Report
New Delhi:
Iran is considering closing the key oil shipping route Strait of Hormuz after the US bombed three of its nuclear facilities, Iranian media reported today.
The Strait of Hormuz is one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
It connects the Persian Gulf to the Arabian Sea and the Indian Ocean. The narrow channel, approximately 33 km wide at the narrowest point, separates Iran (north) from the Arabian Peninsula (south).
But shipping lanes in the waterway are even narrower - 3 km wide in each direction, making them vulnerable to attacks and threats of being shut down, which Iran has decided to do now.
The bulk of oil exports from regional powerhouses - Saudi Arabia, Iraq, the UAE, Qatar, Iran, and Kuwait - must transit this narrow waterway. In the past, it was the West - chiefly the US and Europe - that stood most exposed to disruption in Persian Gulf energy flows, but today it is China and Asia that would bear the brunt of any closure.
For India, the Strait of Hormuz is important as about 2 million barrels per day (bpd) of crude oil out of its total import of 5.5 million bpd transits through the narrow waterway.
Having diversified its sources of imports, India, however, is unlikely to lose sleep even if the Strait of Hormuz is shut down as alternative sources from Russia to the US and Brazil are readily available to fill any void, industry officials and analysts said.
Russian oil is logistically detached from the Strait of Hormuz, flowing via the Suez Canal, Cape of Good Hope, or the Pacific Ocean.
On gas, India's principal supplier Qatar does not use the Strait of Hormuz for supplies. India's other sources of liquefied natural gas (LNG) in Australia, Russia and the US would be untouched by any closure.
The heightened tensions in the world's largest energy supply basket would however have a near-term impact on prices, with oil prices likely to jump to $80 per barrel, analysts said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
25 minutes ago
- Time of India
US urges China to dissuade Iran from closing Strait of Hormuz
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel U.S. Secretary of State Marco Rubio on Sunday called on China to encourage Iran to not shut down the Strait of Hormuz after Washington carried out strikes on Iranian nuclear comments on Fox News' "Sunday Morning Futures with Maria Bartiromo" show came after Iran's Press TV reported that the Iranian parliament approved a measure to close the Strait of Hormuz, through which around 20% of global oil and gas flows."I encourage the Chinese government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil," said Rubio, who also serves as national security adviser."If they do that, it will be another terrible mistake. It's economic suicide for them if they do it. And we retain options to deal with that, but other countries should be looking at that as well. It would hurt other countries' economies a lot worse than ours."Rubio said a move to close the strait would be a massive escalation that would merit a response from the U.S. and Chinese embassy in Washington did not immediately provide comment.U.S. officials said it "obliterated" Iran's main nuclear sites using 14 bunker-buster bombs, more than two dozen Tomahawk missiles and over 125 military aircraft. The strikes mark an escalation in the ongoing Middle Eastern conflict Tehran has vowed to defend itself. Rubio on Sunday warned against retaliation, saying such an action would be "the worst mistake they've ever made."He added that the U.S. is prepared to talk with Iran.
Hindustan Times
29 minutes ago
- Hindustan Times
‘Trump pushed US into another war': Putin aide calls strikes on Iran nuclear sites a failure
Former Russian President Dmitry Medvedev has launched a scathing attack on the United States over its airstrikes on Iranian nuclear sites, alleging that the strikes failed to inflict any meaningful damage on Iran's nuclear infrastructure. Russian Security Council Deputy Chairman Dmitry Medvedev criticised U.S. strikes on Iran, claiming they caused little damage to its nuclear infrastructure.(AP File) He claimed the attacks have instead strengthened the Iranian regime and drawn Washington deeper into a broader Middle East conflict. Follow live updates on the Iran-Israel conflict here In a series of posts on X, Medvedev listed the consequences of the US strikes on Iran's nuclear sites. He said some countries might now be willing to give Iran nuclear weapons. 'Critical infrastructure of the nuclear fuel cycle appears to have been unaffected or sustained only minor damage. The enrichment of nuclear material — and, now we can say it outright, the future production of nuclear weapons — will continue. A number of countries are ready to directly supply Iran with their own nuclear warheads,' wrote Dmitry Medvedev. 'Israel is under attack, explosions are rocking the country, and people are panicking. The US is now entangled in a new conflict, with prospects of a ground operation looming on the horizon,' he added. Read: Bombers flew undetected for 18 hours: How US launched airstrikes on Iran's nuclear sites He criticised Donald Trump for dragging the US into another war, said global opinion is largely against the US and Israel, and mocked Trump's chances of ever winning a Nobel Peace Prize. 'Even stronger now': Medvedev says US strikes failed to weaken Iran regime 'Iran's political regime has survived — and in all likelihood, has come out even stronger. The people are rallying around the country's spiritual leadership, including those who were previously indifferent or opposed to it. Donald Trump, once hailed as 'president of peace,' has now pushed the US into another war,' said Medvedev. Read more: How US military's decoy B-2 Bomber mission helped it achieve stealth before Iran strikes 'The vast majority of countries around the world oppose the actions of Israel and the United States. At this rate, Trump can forget about the Nobel Peace Prize — not even with how rigged it has become. What a way to kick things off, Mr. President. Congratulations!' Dmitry Medvedev mentioned.
Time of India
36 minutes ago
- Time of India
Strait of Hormuz Closure: What is Iran's next move as regime takes final call to close Strait of Hormuz as Yemen joins Iran in war against US and Israel? See if Russia may come to Iran's aid
Yemen Announces Military Involvement Iran Responds to Airstrikes Live Events Iran Accuses US of Legal Violations Will Strait of Hormuz Close? Iran Seeks Support from Russia FAQs Yemen has declared it will support Iran in its ongoing conflict with Israel and the United States. The announcement comes after US and Israeli airstrikes on Iranian targets. The situation has raised tensions in the Middle East and prompted global General Yahya Saree, spokesperson for the Yemeni Armed Forces, announced on social media that Yemen is now part of the war against Israel and the United States. He warned foreign ships to avoid Yemen's territorial statement followed a military message from the Yemeni Armed Forces. The message condemned attacks by Israel on Gaza, Lebanon, Syria and other countries. It claimed the US was supporting Israeli military operations and creating instability in the Iranian Foreign Ministry released a statement on Sunday. It strongly criticized the US for attacking Iranian nuclear facilities. These facilities are under international inspection by the IAEA . Iran called the strikes a violation of international law and statement also noted that the attacks happened during the tenth day of Israel's offensive against Iran. Iran reported that at least 400 people have died in the conflict so said the strikes violated the United Nations Charter and Security Council Resolution 2231. This resolution supports the 2015 Iran nuclear deal. Iran demanded that the UN and IAEA act immediately. It urged the UN Security Council to hold an emergency meeting. Iran also criticized the IAEA Director General. It claimed he was not impartial and helped enable the parliament has approved a measure to close the Strait of Hormuz. However, the final decision will come from Iran's Supreme National Security Council. This waterway handles about 20% of global oil and gas traffic. A commander said the closure will happen if Foreign Minister Abbas Araghchi said he would visit Russia for talks with President Vladimir Putin. He mentioned the strategic partnership between the two countries. Russia has supported Iran's nuclear program and received Iranian drones for its conflict in Ukraine. Russia has also kept ties with joined the war to support Iran and oppose US and Israeli military actions in the region after recent airstrikes escalated may close the Strait of Hormuz if necessary, but the final decision lies with its Supreme National Security Council.
