World Why it's so hard to get oil through the Strait of Hormuz right now

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The U.S. said it had destroyed 16 Iranian mine-laying ships amid fears Tehran could deploy hundreds of mines to effectively booby-trap the critical shipping lane.

Three ships were attacked in the Strait of Hormuz on Wednesday, a British navy-run monitoring service said, the latest in a flurry of attacks on the vital oil choke point.

As Iran targets ships with missiles and drones, even attempting to navigate the strategic waterway is currently unthinkable — with alarming ramifications for the global economy.

"We will not allow even one liter of oil to pass through the Strait of Hormuz for the benefit of the U.S. and its allies," an Iranian armed forces spokesperson said on Wednesday, according to Iranian state broadcaster IRIB.

"Get ready for oil to be $200 a barrel," Iran warned, while the International Energy Agency said that 400 million barrels of oil would be released from emergency reserves in an effort to stabilize the market.

www.nbcnews.com

Why it's so hard to get oil through the Strait of Hormuz right now

The U.S. said it had destroyed 16 Iranian mine-laying ships amid fears Tehran could deploy hundreds of mines to effectively booby-trap the critical shipping lane.
www.nbcnews.com www.nbcnews.com
 
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