Strait of Hormuz closure disrupts 20% of global oil supply amid US-Iran conflict

The closure of the Strait of Hormuz has disrupted approximately 20% of global oil supplies, a consequence of escalating US-Iran tensions. Markets are viewing this supply disruption as a significant energy security risk and anticipating a rise in WTI crude oil prices. Monitoring the progress of ongoing US-Iran ceasefire talks and related geopolitical factors is crucial.