Iran mulls closing the Strait of Hormuz as retaliation: How it could affect global shipping, economy Iran threatened to close the Strait of Hormuz, a vital shipping lane handling 20% of global petroleum demand, in response to U.S. and Israeli strikes on Iranian nuclear facilities. Orignial Source: https://www.foxbusiness.com/economy/iran-mulls-closing-strait-hormuz-retaliation-what-would-mean Previous article: How US strikes on Iranian nuclear facilities could affect gas prices Prev Next article: Grocery giant Kroger to close 60 stores in next 18 months Next