Instead of coming to the peace table following the U.S. attack on its nuclear weaponization plants, Iran on Sunday defiantly ordered the closing of the Strait of Hormuz, a shipping channel that is considered vital for at least 20% of the world’s daily oil flows.
Sunday’s decision by Iran’s parliament is sure to have an impact on crude oil prices, causing them to spike in world trading because the shutdown of the Strait, according to published reports, could block $1 billion in oil shipments a day. If Iran follows through with an attempt to create a blockade, it will be the first interruption of the flow of crude oil out of the Middle East since Israel launches its attacks last week.
The New York Times quoted a senior Asia crude oilanalyst as indicating that not a single barrel of oil was remoed from the market. But her statement came prior to the U.S. attack Saturday evening on Iran’s uranium enrichment facilities through the use of 14 so-called Bunker Busting Bombs, better known as MOABs or Mother of All Bombs. It was the first military use of such bombs by the U.S. and according to Oklahoma U.S. Senator Markwayne Mullin in an interview Saturday night on Fox News, the bombs were produced at the McAlester Army Ammunition Plant in Oklahoma.
The narrowness of the strait makes it vulnerable to attacks and threats of closure. It is less than two miles wide in each direction. Passing ships are easy targets for shore-based missiles as well as patrol boats and helicopters. It is also shallow, another aspect that makes it an easy target for underwater mining.
Does Iran have legal authority to make such a move? No. And other countries that are dependent on the Strait of Hormuz for oil transportation might respond with strength. The US Fifth Fleet patrols the Strait along with other Western navies. The Strait is necessary for the exportation of oil by Iran, Iraq, Kuwait, Qatar, Saudi Arabia and the UAE.
