IRAN STRIKES BACK , SHUTS DOWN ITS STRATEGIC GLOBAL OILY SUPPLY ROUTE AFTER DESTRUCTION OF ITS KEY NUCLEAR SITES BOMBED BY AMERICA
…..Global fuel & food prices expected to rampantly rise
Iran through its decision endorsed by Parliament (popular vote) has decided to close the strait of Hormuz,a passage for oil shipment to the rest of the world , holding 20% of global oil passes through the strait.
The development is expected to shake the global oil market supply with fuel and food prices anticipated to be increasing rapidly in the medium to the long term as the Israel/ Iran war backed by America ( Israel ally) rages on.
The move by Iran is likely to block $1 billion worth of oil supply shipments per day.
SOURCE: The New York Post