The Persian Gulf energy crunch deepened on Wednesday as the U.S. and Israel launched new strikes on Iranian targets. Iran retaliated across the region and effectively shut down the vital Strait of Hormuz, prompting countries around the world to take unprecedented steps to keep oil flowing.
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Follow live NBC News coverage and latest updates as the Iran war hits oil prices, Iran vows to block the Strait of Hormuz and Israel strikes Tehran and Lebanon.
The Persian Gulf energy crunch deepened on Wednesday as the U.S. and Israel launched new strikes on Iranian targets. Iran retaliated across the region and effectively shut down the vital Strait of Hormuz, prompting countries around the world to take unprecedented steps to keep oil flowing.
Attacks by Iran have already nearly halted the flow of oil through the vital waterway as commercial ship crews fear being hit by missiles, drones or mines.
Iran has effectively closed the Strait of Hormuz as the U.S. and Israel continue airstrikes in the country, triggering what's being described as the "largest oil disruption in history."
The threat of Iran laying mines in the Strait of Hormuz -- the narrow waterway through which about 20% of the world's oil supply travels -- is raising fresh fears about global oil prices.
Former naval officers who have served in the Hormuz passage say vessels would be sitting ducks, with little room for maneuver in the strait's narrow shipping lanes, if foreign naval forces attempted to reopen the waterway before a cessation of hostilities.
