Strait of Hormuz blockade hurts Iran’s economy, threatens to spike energy prices
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The Bottom Line
A U.S. blockade of the Strait of Hormuz is hurting Iran's economy and threatens global energy prices.
How This Affects You
The blockade could lead to a significant spike in global energy prices, potentially increasing costs for American consumers.
AI Summary
The U.S. has imposed a blockade on the Strait of Hormuz, effectively shutting down trade to and from Iran’s ports. This action by the Trump administration aims to pressure Tehran back to the negotiating table. Military officials estimate the blockade has cut off approximately 90 percent of Iran’s economy. The measure is also threatening to spike global energy prices.
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Gold falls on oil-driven inflation fears; US-Iran developments in focus - Reuters
Clearing Strait of Hormuz of mines could take 6 months, Pentagon tells Congress - The Washington Post
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<p>Prime minister cuts fuel security visit to Malaysia short. Follow updates live</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p>An extra 250,000 tonnes of agricultural-grade urea for fertiliser will come to Australia from Indonesia, under a new deal supported by the federal government.</p><p>That’s around 20% of the fertiliser needed for the current planting season for Australian farmers, according to the Albanese government.</p><p>This deal also shows why it’s critically important that we have strong relationships with our regional partners.</p><p>While this is a commercial deal, the Australian and Indonesian Governments have been working to support this positive outcome … This will mean Australia can continue to play an important role ...
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<p>US president says on Truth Social attacks are on hold until Iran submits proposal and talks reach end </p><ul><li><p><a href="https://www.theguardian.com/world/live/2026/apr/21/iran-war-live-news-updates-trump-us-hormuz-oil-middle-east-talks">Middle East crisis – live updates</a></p></li><li><p><a href="https://www.theguardian.com/news/2026/feb/17/sign-up-for-the-breaking-news-us-email-to-get-newsletter-alerts-direct-to-your-inbox?utm_medium=ACQUISITIONS_STANDFIRST&utm_campaign=BN22326&utm_content=signup&utm_term=standfirst&utm_source=GUARDIAN_WEB">Sign up for the Breaking News US newsletter email</a></p></li></ul><p><a href="https://www.theguardian.com/us-news/donaldtrump">Donald Trump</a> announced in a social media post on Tuesday that he was indefinitely extending a ceasefire with <a href="https://www.theguardian.com/world/iran">Iran</a> at the request of Pakistan, which has been mediating talks, until the country responded to the United States’ negotiating po...
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