Key Oil Corridor Could Be Closed By Iran As Retaliation For US Strikes

In a significant escalation of geopolitical tensions, Iran's parliament has voted to close the Strait of Hormuz, a crucial maritime passage for about one-fifth of the world's daily oil shipments.

A US Navy convoy in the Strait of Hormuz in 2016.
Photo Credit: *US Navy*

Joe Lombardi

06/22/2025 1:35 p.m.

The decision isn’t final yet. It still needs the green light from Iran’s Supreme National Security Council.

But if the move is approved, it could halt oil exports that are worth around $1 billion every single day.

Secretary of State Marco Rubio said Sunday, June 22 on CBS-TV's Face the Nation that closing the Strait of Hormuz would be a "suicidal" move for Iran's Islamic regime.

Closing the strait would affect the US but would have "a lot more impact on the rest of the world," especially China, Rubio said.

Experts are already sounding the alarm, saying that closing the key shipping route could send global oil prices soaring.

Dan Tsubouchi, from the Sunday Energy Tidbits newsletter, emphasized that the Strait will remain a focal point for the oil and natural gas markets amid ongoing threats to US interests in the region.

Earlier report - Gas Prices May Spike After US Strikes Iran Nuclear Sites: What To Know

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