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Iran's joint military command has ordered another closure of the Strait of Hormuz, the narrow Gulf passage linking Persian Gulf producers to world oil markets, citing continued Israeli military operations in Lebanon.
The announcement places tanker operators and refiners holding long positions on Gulf barrels in immediate uncertainty.
Vance is traveling to Switzerland for talks as the confrontation between Iranian and Israeli military interests deepens.
The Chokepoint and Its Cargo The Strait of Hormuz connects the Persian Gulf — where Saudi Arabia, Iraq, Kuwait, the UAE, and Qatar load crude and liquefied natural gas for export — to the Gulf of Oman and the open sea.
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