Strait of Hormuz closed again

The brief window of optimism for global shipping slammed shut Saturday as Iran’s military command announced it would resume strict management of the Strait of Hormuz.

Despite initial reports of tankers transiting the chokepoint, Iranian officials now claim the U.S. failed to honor its obligations by maintaining a naval blockade.

President Trump has countered by stating the blockade will remain in full force until a comprehensive deal is reached regarding Iran’s nuclear program.

This latest escalation has caused shipowners to reverse course in the Persian Gulf as they await clarity on the safety of the vital oil and gas channel.