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US Blockades Strait After Iran Talks Fail
Peace talks between the United States and Iran ended without a deal. President Trump then announced a blockade of the Strait of Hormuz.
The strait sits between Iran and Oman and carries 20% of the world's oil. Trump ordered the United States Navy to intercept ships.
This includes ships that pay tolls to Iran to pass through the strait. Oil prices rose above $100 per barrel. Stock prices are expected to fall after the announcement.
Klear Note — The Strait of Hormuz is a narrow waterway between Iran and Oman. About one-fifth of world oil passes through it daily. When oil supply shrinks, prices rise and affect gas costs everywhere.
Key Terms 4
- Strait of Hormuz
- A narrow sea passage between Iran and Oman
- blockade
- Using military force to stop ships from entering or leaving
- intercept
- Stop and search a ship at sea
- tolls
- Fees paid to pass through a route