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The Independent UK
The Independent UK
National
Maira Butt

Strait of Hormuz crisis deepens as European oil prices hit record high

Oil Strait Strait of Hormuz United States
  • European oil prices reached a record high, nearing $150 a barrel, following threats from the US to blockade Iranian ports in the Strait of Hormuz.
  • The US Central Command initially announced a closure of access to all Iranian ports from Monday, though movement for non-Iranian vessels transiting the Strait would be permitted.
  • Iran's armed forces spokesperson, Ebrahim Zolfagheri, condemned the US restrictions as "illegal" and an act of "piracy".
  • Donald Trump had threatened a blockade, but the US later retracted, stating it would "not impede" movement through the waterway, while Iran's Revolutionary Guard warned against military vessels approaching.
  • The escalation comes after Islamabad negotiations collapsed over the weekend, reportedly due to disagreements concerning the Strait of Hormuz and Iran's nuclear programme.

IN FULL

Iran-US war latest: European oil prices hit record high ahead of US blockade of Iranian ports in Strait of Hormuz

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