For the first time in history, Iranian officials have announced the closure of the Strait of Hormuz. This decision comes in response to joint strikes conducted by the U.S. and Israel.
The Strait of Hormuz is a critical maritime passage, with approximately 20% of the world’s oil and gas trade flowing through this route along Iran’s southern border.
James Bikales, Politico’s oil and gas reporter, joins us to discuss the potential financial repercussions of this unprecedented action.
https://www.cbsnews.com/video/iran-ceases-shipping-strait-of-hormuz-us-israel-strikes/
