Hormuz blockade impacts trade

The enforcement of the blockade involves over 10,000 U.S. personnel and dozens of warships and aircraft.

This aggressive military action has caused global oil prices to fluctuate wildly as markets assess the long-term impact on energy supplies.

Iran has responded by claiming the strait is part of its territorial waters and has threatened to retaliate against U.S. bases in the region.

Meanwhile, major economies in Asia and Europe are bracing for potential fuel shortages and systemic supply chain disruptions.