Pete Hegseth on Strait of Hormuz: 'Don't need to worry about it'

The Strait of Hormuz has been effectively closed since the U.S. and Israel began the war on Iran, cutting off a critical global oil shipping chokepoint. Expect immediate supply disruption and upward pressure on oil and energy prices, widespread shipping reroutes and higher freight costs, and heightened risk-off sentiment across global markets.

Analysis

The Strait of Hormuz has been effectively closed since the U.S. and Israel began the war on Iran, cutting off a critical global oil shipping chokepoint. Expect immediate supply disruption and upward pressure on oil and energy prices, widespread shipping reroutes and higher freight costs, and heightened risk-off sentiment across global markets.