U.S. military denies Iran's claim it struck U.S. warship in Strait of Hormuz

Iran has blocked tanker traffic through the Strait of Hormuz since the U.S. and Israel began the war in late February, creating immediate supply and price shocks. The disruption threatens a critical global oil transit chokepoint, likely pressuring energy prices higher and raising broader transport and supply-chain costs. This is a major geopolitical shock with market-wide implications.

Analysis

Iran has blocked tanker traffic through the Strait of Hormuz since the U.S. and Israel began the war in late February, creating immediate supply and price shocks. The disruption threatens a critical global oil transit chokepoint, likely pressuring energy prices higher and raising broader transport and supply-chain costs. This is a major geopolitical shock with market-wide implications.