Strait of Hormuz — Global trade was thrown into turmoil when Iran abruptly announced it was closing the Strait of Hormuz, ordering tankers to halt or turn back as fast‑attack boats, drones and missile batteries surged into the narrow waterway that carries a fifth of the world’s oil.

IRGC patrol craft fired warning shots across bows, forced at least two foreign tankers to anchor under armed guard and began laying what Western intelligence believes were naval mines along key shipping lanes. Iranian state TV hailed the move as “choking the arteries of American power,” warning that any ship “cooperating with the enemy” would be treated as a hostile target. Oil prices spiked within minutes, and insurers quietly froze coverage on Gulf transits.