US-Iran strikes close Strait of Hormuz

Escalating military strikes between the US and Iran have effectively closed the Strait of Hormuz to shipping traffic, with over 140 US targets struck in Iran and Tehran attacking multiple US positions across the Gulf. The closure of all three shipping corridors through the strait threatens approximately 20 per cent of the world's energy supply, depleting fuel reserves and raising concerns about supply shortages to Australian and Asian markets. Maritime security experts warn that the ongoing cycle of escalation and retaliation shows no signs of breaking, with fuel prices expected to surge as markets react to the crisis.See omnystudio.com/listener for privacy information.