Iran claims that the Strait of Hormuz has been closed and will strike all ships attempting to pass through

According to CCTV News, on the night of March 2 local time, an advisor to the commander of the Islamic Revolutionary Guard Corps of Iran stated that the Strait of Hormuz has been closed, and Iran will strike all vessels attempting to pass through the Strait of Hormuz. Currently, the Islamic Revolutionary Guard Corps of Iran has not issued an official statement. On the same day, Jeremy Nixon, CEO of the container shipping company Ocean Network Express, stated that following the U.S. and Israeli attacks on Iran, approximately 750 vessels are currently stranded around the Strait of Hormuz, with about 100 of them being container ships. About 10% of the global container fleet is trapped here. The International Transport Workers' Federation and the Joint Negotiating Group issued a statement on their official website indicating that the Strait of Hormuz and its surrounding waters have been designated as a "high-risk area" following the escalation of local military conflicts. This designation means that shipowners and operators must ensure enhanced protection for seafarers, including conducting risk assessments before transit, signing insurance contracts, and allowing seafarers the right to refuse to enter the area. The International Transport Workers' Federation represents 16.5 million transport workers globally, while the Joint Negotiating Group brings together employers from the maritime industry. Currently, as Iran retaliates against U.S. and Israeli attacks, marine insurance companies have suspended navigation through the strait between Iran and Oman. This strait accounts for about one-fifth of global oil consumption and a significant amount of natural gas transportation. The disruption of energy transport in the Strait of Hormuz is affecting the pricing of some major crude oil grades globally. On March 2, S&P Global Energy stated in a note to subscribers that it has stopped accepting buy and sell quotes for crude oil grades that need to pass through this chokepoint in its trading window used to help determine the Dubai benchmark price. The relevant grades include Dubai, Upper Zakum, Al-Shaheen crude, and some Murban cargoes. Risk Warning and Disclaimer The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at their own risk