Global Energy Markets Shaken: Iran Reimposes ‘Strict Control’ Over Strait of Hormuz. The fragile calm in the Middle East has been shattered once again. Just hours after a brief reopening that sent oil prices tumbling and offered a glimmer of hope for global trade, the Iranian military has officially declared it is reimposing "strict management and control" over the Strait of Hormuz. See More The Iranian Central Command issued a stern statement Saturday morning, claiming that the United States failed to uphold its end of the bargain. Energy Flow: Roughly 20% of the world’s oil and liquefied natural gas (LNG) passes through this narrow stretch of water. See More
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